Kentucky's pension reform lite in 2008 hasn't gotten the ridicule it deserved, though some of us have tried.
New Jersey pulled a similar trick last year and the latest available analysis indicates it wasn't worth the effort. At least one writer there is having a little bit of fun with the unfunny mess. NJ.com's John Bury said:
The lesson Frankfort will probably take out of this is to not do an actuarial report on the effects of last year's "reform" effort.
But since the 2009 General Assembly actually took steps to make the problem worse (here and here), we need to be talking about it, looking at it, and making real reforms immediately.
Saturday, April 4, 2009
Like spitting in the ocean
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To make real reform is going to require improving Kentucky's economic climate.
Kentucky's politicians need to take the initiative towards legalizing all things cannabis. Then specify regulations and taxes on the recreational and medical use of cannabis.
In the economic climate the country is in, it's imperative that innovative and entrepreneurial activities be promoted.
States just can't wait around for the Congress to act. Sens. McConnell (R-KY) and Bunning (R-KY) will do nothing to enhance Kentucky's economy. McConnell was more interested in funding an Alaska's "bridge to nowhere" than in introducing more variety into Kentucky's economic environment.
As far as pension reform goes, State Sen. David Williams (R-Burkesville) wants to move Kentucky pensions into the stock market like Bush, McConnell and Bunning wanted to do with Social Security. This is lunacy taken to the nth degree.
None have any goals or vision to diversify and enhance Kentucky's economy.
Feudalist-Republican-conservative ideology is so mired in the past, that all they can think of is, "How can we enhance the well-being of the lord of the manor? The serfs can have the table scraps."
This is nothing more than "trickle-down, smoke-and-mirrors, voodoo-Reaganomics."
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