Rhode Island cuts pensions, gets backing from federal court

[GMDino]

(02-20-2018, 06:53 PM)JustWinBaby Wrote: The difference is the federal govt can print however much money it needs to pay its bills.  The question is how much you can print before inflation becomes a serious problem.  And at some point they will lower the benefit and increase the withholding, extending it at least a few more decades.

Many states have serious pension issues.  I saw a proposal to break-up IL into three states mainly because the state constitution prohibits the restructuring/changing of pension benefits.  I know it sucks if your benefit is reduced, but why is it the responsibility of a taxpayer today for an unrealistic benefit promised 20-30 years ago?  Like all of us non-pensioners, if the markets don't do well you might have to accept a lower standard of living in retirement and/or work a few more years.

Serious question: If we've been printing money all this time why didn't we see inflation?  And why are interest rates going up now because wages are (finally) going up and there is a fear of inflation?