Bogus cash pays for roads

Published July 16, 2014 3:40pm ET



WASHINGTON (AP) — If there’s anything that can unite Democrats and Republicans in the partisan swamp of Capitol Hill, it’s free money.

The latest example of free money in Washington is a retread proposal called “pension smoothing” that raises money but doesn’t increase anyone’s taxes. To some people’s way of thinking, that’s a win-win situation. But others say lose-lose is more like it, arguing that it’s budget fakery at its worst and that it could undermine pension security for millions of workers.

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