Pensions and the government

Yet again, we're discussing bailing out deficient pension plans.

Someone's missing the fundamentals here. If a company can
make labor peace today by committing the government to
spend money down the line, we can bet they'll do that in
spades.

The idea of a guaranteed pension funded by ongoing business
activity is flawed from the start. It's a pyramid scheme which
cannot hold together, despite abstract potential to be a
counter-example.

Check history. Companies have a cycle. They rise, and eventually
they fall. Common sense dictates that pension promises must
be funded now, not later.

The solution is not to make unsustainable pension promises
illegal, despite their scam nature. The solution is to stop
backing them up with taxpayer money.