it'll affect the private sector people like myself ..who will only be able to rely on a 401K not a defined pension....
his is Russia ....rewarding the party people while others crash and burn...
but it will be a difficult task because the rich govt workers and the welfare queens have the same master, and the welfare queens and their baby daddies are a little more violent and get a little more upset when they don't get theirs...
Just where exactly do you think those bloated pensions are invested?
They aren't setting in a shoebox somewhere waiting for government leeches to retire, they are way underfunded and invested in the stock market in hopes of gains to cover payouts.
Cities are going bankrupt, laying off workers and slashing pensions in bankruptcy court.