Our children and grandchildren will pay off those pensions, whether they like it or not.
I don’t pity the corporations because during the 60’s and 70’s when the auto company’s were strong and profitable, the uaw demanded cradle to grave benefits and to avert strikes, the manufacturers caved.
However, they did not put money away for the rainy day fund to finance the liabilities they agreed upon. Now healthcare costs have sky rocketed as well as everything else.
They have little cash on hand to cover the unfunded liabilities.
The combined targeting by the unions and the gvt. will soon cripple these corporations and they will have no choice but to surrender to the Marxist powers that be.
cloward and piven!!!