I don’t think reducing compensation for future employees through reduced pensions shores up retirement for current employees or pensioners. For that you have to raise taxes a lot, I think. My suggestion was to prevent even worse problems in the future.

I think the current folks are hosed because raising taxes on the middle and working class along with rich people is unpopular so I don’t think elected officials will want to do that. So they will probably chug along and then go bankrupt, hosing pensioners.