Jared, one correction: The deal you refer to took place in the late '70s when unions were young and inflation high. We public employees traded COLA for the PERS Pick Up. As the economy improved government entities knew a ballon payment was coming but acted as though the good times would keep on rolling. When the economy collapsed local governments grown fat on tax revenue found themselves with a big bill they couldn't pay. Rather than act like grown ups and accept responsibility local leaders blamed the victim--public employees--when the blame falls completely on themselves. We public employees made a sensible deal in tough times. It's government that wishes to renege on the deal.