The voters elected people who made that promise. Of course taxpayers are on the hook for promises made by politicians.
The taxpayer DID get something for this. They got public employees who took less money up front in return for a good pension. This saved the taxpayers money in the short term.
Under your argument, is the government not required to keep ANY promise? “The government should never have promised to pay back these treasury bills. Taxpayers don’t get anything from redeeming them, we shouldn’t pay off any of the government debt!”
The taxpayer DID get something for this. They got public employees who took less money up front in return for a good pension. This saved the taxpayers money in the short term.
Under your argument, is the government not required to keep ANY promise? “The government should never have promised to pay back these treasury bills. Taxpayers don’t get anything from redeeming them, we shouldn’t pay off any of the government debt!”