According to the Financial Times: ( This is not Satire)
The Pension Guarantee Corporation will almost certainly go broke. A guy like Kevin on this site, will likely never see his full union pension. Or, it will be in much depreciated real dollars.
Do any of you remember the "lucky" people at places like Bethlehem Steel, and Pan Am?
Once again, the mor--------s on this site who worship O'Bummer, are just that!
Thus, there will have even more deficits.
The O'Bumites on this site, who allege to be professional bankers, are ingrates, liars,hypocrites and fools.
Rick Santelli is one of the smartest voices on the boobtube. We are headed for Europeanization.
I hold the allegedly educated O'Bumites, who could not have cared less about the massive election
fraud, and their own complicity in it, at lest partly responsible.
Moreover, I will hold those same O'Bumites at least partly complicit when Hizbollah acts against us take place.
An old fashion Dem like Kennedy ( not one of my favorites) would have taken out Hizbollah infrastructure in nations like Venezuela a long time ago.
The Financial Times has an article in it that says the Pension Guarantee Fund will go broke, so there fore you wonder what someone that voted for Obama has to say? Or you think Obama is somehow to fix the problem?
Well what I have to say is that its unfortunate that people are losing their pensions. Financially it may not be any worse than those workers that lost their savings in the stock market or have already spent it. But mentally I would imagine its probably much worse to lose a pension that you were promised in return for your labor than to have mismanaged your own finances. I feel compassion for those people that were promised a pension but dont receive one.
And as far as Obama, I dont see where he is responsible for taking care of this unfortunate situation. However what would be even worse is if Obama decides he actually should do something to resolve this unfortunate situation. Its a fact of life, some companies go broke, and some pension funds go broke. Rather than propping up the Pension Guarantee Fund what I would do, as someone that voted for Obama, force pension funds to be more realistic in their payouts and legally tell their pensioners that they can either receive less or else receive nothing.
And as for any terrorist group in the middle east, their hatred for the US started well before Obama took office. If you think about it, It is literally impossible to stop most terrorist action. Its bound to happen. We cant give them Israel, and we cant force them to stop killing us.
Mr. Schnider, " Its a fact of life, some companies go broke, and some pension funds go broke. Rather than propping up the Pension Guarantee Fund what I would do, as someone that voted for Obama, force pension funds to be more realistic in their payouts and legally tell their pensioners that they can either receive less or else receive nothing."
Excellent post. I would say that pension funds should be forced to remain fully funded on a year to year basis or close the fund and distribute all assets to those who are vested. If the are over funded and they decide to close the fund, all the assets should be distributed rather than just the actuarial amount due those invested.