The War of the Generations01-18-2013
Here's the headline of the day from our friends over at Via Meadia.
Illinois’s Blue Robin Hoods Stealing from the Young to Give to the Old
The topic is the pension crisis, specifically in Illinois, where the legislature has decided to cut spending on education by $400 million — for the third year in a row. All to pay back money owed to the states horribly underfunded pension plan.
Sticking it to either group, the young or the old, isn’t appealing, but the boomers are politically organized and better positioned to fight for their interests, particularly because powerful unions are on their side. The young, by contrast, are among the least politically active groups in the country, making them much easier for politicians to ignore. Illinois has obviously chosen the path of least resistance.