Yid with a Lid's views on Obama, Unions and their pension plans.
Real interesting chart on funding at the bottom of it.
http://yidwithlid.blogspot.com/2010/03/how-coming-union-pension-plan-collapse.html
I thinkaround 12% of the US work force is unionized.
If their pension founds go under is the American tax payer going to foot the bill??
Something else to look forward to... :mad::mad::mad:
If their pension founds go under is the American tax payer going to foot the bill??
Probably - via the PBGC (Pension Benefit Guaranty Corporation).
Purely rhetorical question: what happens when pension funds, both public and private, suffer systemic failure? The private ones go to the PBGC, and hence the taxpayers. But the public ones, which are badly underfunded, will likewise involve the taxpayers. This implies either more debt, more taxes, or some combination thereof.
In my opinion, that rainy day we heard about is coming. And a cold, hard rain it will be.
Utah Bob
03-06-2010, 08:27
Now where's that sale ad for 7.62 ammo that I cut out of Shotgun News?