Sunday, May 29, 2005
There's plenty of red ink on everyone's hands at the Capitol
The Senate just concurred with a House amendment to trim some pension benefits, especially for Downstate pensioners who game the system with the worst abuses. The GOP calls this a textbook raid on pensions while the Dems call it a restructuring of debt. This will be a fascinating framing debate, because whichever frame prevails in the public mind will define fiscal responsibility. The Dems have some fair points, especially yhe arbitrary balloon shape of the 1995 deal, but the GOP has a much simpler message. And Schoenberg, the sponsor, had the best line (in the title) which suggests the frame the Dems will be using of a four decade problem that the current administration is incrementally improving.