In response to:

Do We Really Have to Pay for All This?

Mike25 Wrote: Apr 15, 2013 7:14 AM
I believe that veterans in general, and especially those who have fought for their country, should be entitled to lifetime healthcare. Likewise, veterans who are disabled as a result of battle, should receive an inflation proof pension. On the other hand, I believe that government employees should be in defined contribution plans, just like regular citizens. My primary reason for saying this is that it may cost them something to contribute to a 401k, but they'll own the investments, whereas a rich pension promise can blow up in their faces.

There are legitimate debates about public policy issues. Those discussions do not have to be turned into demonizing the other side as Al Gore stylized regarding Global Warming and Paul Krugman now personifies regarding our massive deficit and debt. We had one of those discussions the other night which we all should explore.

The debate we had was regarding the financial crisis facing the City of Los Angeles due to retirees’ health and pension benefits. This crisis is not exclusive to Los Angeles. Most municipal and state governments face similar challenges. In addition, it is agreed that the largest budget challenges...