Magazine July 19, 2010, Issue



What Pension Crisis?
In “The Other National Debt” (June 21), Kevin D. Williamson badly misrepresents the reality of retirement assets for employees of federal, state, and local government in the U.S. Williamson states, “While the federal government runs a reasonably well-administered program for its workers, the states . . . have been running a mad-scientist experiment in their pension funds, making huge promises but skipping the part where they sock away the money to pay for them.”

But in fact, state and local governments have set aside more than $2.5 trillion in assets to advance-fund pension benefits for their employees. These are

Members of the National Review editorial and operational teams are included under the umbrella “NR Staff.”

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Books, Arts & Manners




The response to retirement insecurity should not be to disparage some of the few remaining decent plans.


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