There aren’t a lot of cases where I find myself in agreement with Ezra Klein on economic issues, but on pensions, I think he may have nailed it. For those unfamiliar, pensions are little more than a way to say “I’ll gladly pay you tomorrow for a hamburger today”. Employees often take a smaller paycheck now so that they can collect income after they retire or leave their position. Unfortunately, the arrangement allows for a lot of lying and number fudging along the way.
Sen. Howard Stephenson, with whom I often disagree, made some waves when he declared that college might be a waste of time. On the surface, it seems like a silly argument. College graduates still earn more than non-graduates and many skilled job positions still require a degree. That said, the return on investment has been getting much longer and many skilled professional without degrees often have just as much earning potential. I think this opens up a broader discussion on the real value of a college degree and a high school diploma.
I’m a big fan of local control for practical reasons. You often get elected officials that are much more responsive and in-tune with the needs of their constituents. Bad decisions are contained to a much smaller effective area and experimentation with good ideas leads to more of them. When elected leaders fail to make good decisions or respond to the needs of the people, the “throttle factor” is often much better with your city council member than a state or federal representative.
We’ve seen this play out on the federal level for decades now. Bad decisions made at that level affect everyone rather than just a limited subset of the populace. The all-or-nothing gamesmanship often leads to contradictory laws and policies that are confusing and keep either from actually prevailing. Our state legislature often rails upon these failings, but now they’re turning around and doing the exact same thing to the cities and counties.