The cover story of Barron’s is on public pensions, an issue I have been railing about for years, and heatedly so for several months. Please consider The $2 Trillion Hole. LIKE A CALIFORNIA WILDFIRE, populist rage burns over bloated executive compensation and unrepentant avarice on Wall Street. Deserving as these targets may or may not be, most Americans have ignored at their own peril a far bigger pocket of privilege — the lush pensions that the 23 million active and retired state and …

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The $2 Trillion Public Pension Hole and What You Can Do About It