Public Sector Defined Benefit Pensions

Dean Baker tells us to add this to the pile:

Beat the Press: The Problems of Public Pensions: Mary Williams Walsh has a nice piece on the unbooked libailities of public sector pension funds in today's NYT. Supporters of defined benefit pensions and public sector provision of public services are not helping the cause when they ignore bad accounting.

http://www.nytimes.com/2006/08/08/business/08pension.html?ex=1312689600&en=f1304b3798aac659&ei=5090&partner=rssuserland&emc=rss