The US pension system has gotten so bad, Congress is actually planning for its failure.
As the government was working on the recent, new budget deal and subsequent boost in government spending, Congress quietly snuck in a provision that forms a committee which would use federal funds to bail out as many as 200 “multi-employer” pension plans – where employers and labor unions jointly provide retirement benefits to employees.
As is often the case, this rescue “plan” is too little too late. The US pension system is beyond repair. And if you’re depending on pension income to carry you through retirement, it’s time to consider a Plan B.
Before explaining how dire the situation actually is, let’s take a step back...
Pensions are simply giant pools of capital used to pay out retirement benefits to workers. Typically, employers and employees contribute a percentage of the employees’ salary to a pension throughout his or her career. Then, upon retirement, the pension is supposed to pay a fixed, monthly amount to the retiree.
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Congress is not authorized to use public money for a bailout of private pensions.
ReplyDeleteThis is another (of many) prime example of how the US government operates in a criminal manner.
Another example is the “borrowing of money” from the Social Security Trust Fund.
"As is often the case, this rescue “plan” is too little too late. The US pension system is beyond repair. And if you’re depending on pension income to carry you through retirement, it’s time to consider a Plan B."
ReplyDeleteNo it's not too late. Build that damn wall and stop allowing illegal aliens to enter our country. Stop allowing the illegal aliens to receive welfare, food stamps, EBT cards, Medicaid, housing vouchers and any kind. Stop all the entitlement programs for illegals and the lazy.
They are illegal aliens so put them to work pick up trash on highways or any hard labor government work. Put the ones that committed crimes while here illegally in jail for a long time and put them to work on chain gangs. Build concentration camps and tent cities in the hot deserts if you have to. STOP the "anchor baby" bullsh!t.
Quit saying "Deport them." Once you deport Mexicans across the border they come back across a few days later. It's a vicious cycle. When the illegal alien Mexicans have completed their hard time sentences put them on ships and deport them to a Middle Eastern sh!thole far away from their country of origin. When the illegal Muslims have completed their hard time sentences send them to a shithole with gangs and crime like Venezuela. You have to make life miserable for them over here and you will never have to worry about them wanting to come to our country again. Fine or heavily tax businesses that import workers from India to work at their businesses. These people often get lost in the system when their visas run out and are never punished for their crimes. Yes it is a crime to stay in America when your visa expires. If for any reason visa workers are needed then put ankle bracelets on them and limit where they can go. That way when their visa runs out you can find them.
Allow the Border Patrol agents to shoot illegals who cross the Border. For those trying to swim across the Rio Grand or by raft, give them 3 warnings in English and Spanish with their rifles aimed at them. If they ignore then shoot them. It happens in other countries so don't worry about the Libtard softies.
Put the lazy A.A. welfare mongers to work to pay off their debt to society for cheating the hard working Americans.
Insert permanent contraceptives in all the lazy minority baby makers and put them to work.
Tell me again why it's too late?