Defined benefits dying out (continued) 

I notice that my Sunday Examiner column on how defined benefit systems are dying out finds additional support in Monday’s Washington Post, in  a story by Edward Cody headlined, “Europeans shift long-held view that social benefits are untouchable.” It turns out that Europeans can’t afford defined benefit systems either--indeed with their low birth rates and decades of sluggish economic growth they have a harder time doing so than we do. Perhaps this will help persuade that portion of the diehard defined benefits backers who always instinctively feel that Europeans do things better than we Americans do.

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Michael Barone

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