A Spoonful of Fiscal Sense

The magnitude of Vermont’s public pension debt problem puts us among the bottom third of the states, and it has caused two major rating agencies to downgrade the state's bond rating. We are a critical point of this debt crisis -- pensioners could lose access to funds and Vermonters are likely to see doubling or even tripling of income taxes if the state seriously attempts to fund the growing pension liabilities. Meanwhile, legislative leaders responded by scolding the rating agencies, and the media lauded high schoolers who shut down a major intersection in Montpelier while demanding climate justice. In other words, the adults get away with zero accountability for their fiscal mismanagement and for brainwashing today's teens who don’t realize that they have to pay for this accumulating debt out of their own pockets in the near future.