Irrational Exuberance: The Trouble With Hysteria Over Public Pension Shortfalls
WASHINGTON, D.C.—On Monday, the U.S. House of Representative’s Judiciary Committee held a hearing on public pension funds and states' shortfalls in funding them. Republicans have used the pension problems as an occasion to attack public-sector unions. The committee hearing was full of bombastic rhetoric that unrealistic obligations to union workers ...






