The Kentucky state Senate, after voting Thursday to further weaken the public employee benefits system, has abandoned all pretense to fiscal responsibility.
The mainstream media generally doesn’t pay much attention to the $30 billion and growing public employee benefits nightmare. Indeed, precious little mention of last month’s $50 million raid on the health fund can be found anywhere.
Kennesaw, Georgia actuary Thomas J. Cavanaugh told Kentucky legislators and retirement system officials back in January:
“Arguing that today’s taxpayers cannot afford the actuarially determined rates begs the question as to why or how future taxpayers are presumed to be able to do so.”
Begging questions and avoiding hard truths about our oversized state government? Yep, sounds like our guys.