Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more "fairly" distribute taxpayer-funded pensions to everyone. Sen. Tom Harkin (D-Iowa), Chairman of the Health, Education, Labor and Pensions (HELP) Committee heard from hand-picked witnesses advocating the infamous "Guaranteed Retirement Account" (GRA) authored by Theresa Guilarducci. (You can find the blistering interview with Guilarducci by radio talk show host Mark Levin in 2007 at the link). In a nutshell, under the GRA system government would seize private 401(k) accounts, setting up an additional 5%...
