Posted on 12/12/2014 12:28:34 PM PST by WhiskeyX
More than a million retired and current truck drivers, construction workers and other union workers could see their pension benefits cut if the U.S. Senate passes a proposal aimed at shoring up some of the nation's biggest pensions.
The House of Representatives approved the proposal late Thursday night as part of a last-minute government spending bill. The bill now heads to the Senate, which is expected to vote on the funding bill by midnight on Saturday.
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(Excerpt) Read more at finance.yahoo.com ...
They’ve go to fund amnesty some way ya know
How’s Illinois’ 100 billion shortfall going to be met?
But not the congressmen themselves, right? Quelle surprise.
I’m wondering why some legal eagle isn’t shouting about an illegal government taking of private property; i.e. contractual pension compensation?
Illinois will default and ask to be bailed out by the feds.
Yeah you'd think that a pension fund that is currently $14 trillion in the hole would need to cut it's payouts. So let's slash Congressional pensions 60%.
Count on it.
From each according to their ability
to each according to their need.
Okay Sheeple, line up here right behind the 48 Million Freeloaders and the 10 Million Criminal invaders and we will see what we have left of your retirement savings once we get to you.
Oh, by the way. Enjoy the marmalade. It’s provided by your Elected Officials and yes there are warm showers after you eat.
Funny how we can CUT Pensions for Private Employers who’s pension plans are and were bankrupt, but not for the Public Employees who’s pension plans are BANKRUPT???
but never ever ask the stinking govt workers to take cuts...nope...they are the party people like in Russia where the party people vacationed on the Caspian sea and the miners searched for food on the shelves....
They learned from Greece.
They are setting us up for slaughter.
Years ago I think it was Max Baucus suggested nationalizing individuals personal savings ie. 401k, TSA, IRAs.
His comment was something along the lines of ‘there is 100 billion dollars of untapped resources’. This was maybe 10 years after they approved the tax free retirement accounts.
All they need is a spark to invoke some national crisis that will prompt them to confiscate it all. With over half of the people flat broke in this country they have the support of the majority to screw those of us that sacrificed for decades to create a bit of a nest egg.
It’s coming. After the Treachery last night in the H.O.R. I am convinced it is coming much faster than anyone expected.
Put 15 million angry Mexicans and blacks on the streets without yobs and their E.B.T. cards zeroed out for a couple of days and watch the bastards turn us into Zimbabwe.
CA is unfunded by about a trillion!
I see this as just another ‘little’ step toward the Feds taking over ‘all’ pension funds and 401k’s.
They’ll take all of the assets and then issue ‘fiat’ scrip to the pensioners. Probably in EBT card format. When the pensioner finally dies they’ll keep all of the assets and remaining ‘money’ in the pensioner’s account so as to prop up the fund.
For some weird reason I also can ‘see’ them introducing ‘games and activities’ that are more risky and life threatening as a means of reducing the ‘pensioner’ pool.
I’ve got a few words for anyone who puts there mitts on my IRA. I got them from a buddy who had a short career as a repo man. He was getting fixed to tow a car he was seizing when a guy yelled at him saying: you put your hands on that car and that is where they are going to stay. That is how I feel on the IRA issue.
A simpler and stealthier takeover isn’t a flat “nationalize the 401Ks and IRAs”. It is mandating 1% or 2% be invested in government bonds as a “safe investment”.
The government then sells hundreds of billions in bonds to trapped investors, and most don’t care because it is chicken feed.
Then the mandated percentage is ratcheted up, and people are reluctant to leave due to the tax consequences - which the fed doesn’t mind, because that also generates revenue to pay the bills.
Patience, patience please
That has put a major strain on the Pension Benefit Guaranty Corporation, the government agency that insures pension plans, which last month said its reserves are dangerously low.
can’t be...... the dogma is that it is all bad
What's that Mark Twain said...something about lies running around the world while truth is still putting its pants on?
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