[Spooky23]

That's bullshit. States with more responsible governance where pensions were funded are fine.

The problem is that government failed to govern itself. I'm a person with a public pension that is largely funded. By offering that pension, my employer saved significant sums of money compared to paying someone like me a market rate.

The real devil here is the dumb, inflationary fiscal policy where debt is virtually free and nobody can actually save anything.