Henninger writes about what he calls a rare chance to defuse the pension bomb. New York, like many other once-important states, is sitting on a public pension debt bomb. If it blows, it will take great swaths of the productive American economy with it for years. Harry Wilson says he can defuse the New York bomb. If Harry Wilson can get the public-pension death spiral under control in New York–and he just might have the professional and intellectual tools to do it–it should be possible to reform pensions in any state. Henninger concludes that it should be possible for a Cuomo-Wilson alliance to fix another failing American state.
Henninger writes ‘Wonder Land’ for the Journal.