Last night I was discussing the generational unfairness of public sector jobs and public sector pensions.
Younger workers are taxed to pay for generous retirement benefits for public sector employees that the younger workers couldn't get if they were among the few to get public sectors jobs.
My friend Dan noted that because the Illinois Constitution requires taxpayers to honor pension guarantees, the public sector workers and their unions could behave irresponsibly when politicians borrowed from pension funds. The workers and the unions figured they had an ironclad guarantee they would be paid.
But what if the U.S. Constitution was amended?
"No one shall be taxed to pay for pensions that are more generous than s/he would be eligible to receive."