Anyone who looks can see this disaster coming, but it’s getting next to zero attention in public policy discussions. That’s probably because government policies have created it, and no elected official wants to risk trying to address it. Scott Walker’s experience in Wisconsin is instructive.
h/t to Professor Glenn Reynolds, who reminds us, “Something that can’t go on forever, won’t. Debts that can’t be repaid, won’t be. Promises that can’t be kept, won’t be. Plan accordingly.”