Creating pensions that offer generous retirement benefits wins votes in the present by promising spending in the future. Promises cost nothing in the short run — and elections are held in the short run, long before the pensions are due.

Guns and Pensions – Thomas Sowell http://m.townhall.com/columnists/thomassowell/2013/02/19/guns-and-pensions-n1513748?utm_source=thdaily&utm_medium=email&utm_campaign=nl

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