Let's Change the Name

Governor Dr. Neil Abercrombie has made clear his support for public sector employees. He forgets (or refuses to acknowledge) the accumulation of pension debt. Do you get the impression he's just topping off his own pension, and leaving the mess for others to address when he's gone? As with federal entitlement programs like Medicare and Social Security, State pension obligations are uncertain but large. The Government Accounting Standards Board determines the rules according to which actuaries calculate pension commitments. Let's change the name to Government Accounting Standards Panel.

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