The coming public pension nightmare

With all the fiscal problems created by Barack Obama, the public pension crisis cannot be laid at his doorstep.

That's because public unions - police, firefighters, teachers, state and local workers, and transit employees - have been gouging cities and states for years, sweetening their pensions at taxpayer expense until a nightmare is now on the horizon; the inability of cities and states to pay for these diamond-studded pension plans.

And that will eventually mean a taxpayer bailout to end all taxpayer bailouts. (more)