Liberty Phoenix
...for liberty must be continually reborn in each generation.
Underfunded Pension Funds
Bailing Out Criminal Recklessness Once Again
Cooking the numbers and risky investments have contributed to the underfunded pension fund fiasco:
http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=alwTE0Z5.1EA
Most young people aren't promised a pension anymore and they certainly can't count on the looted Social Security "trust" fund to be there. Now the older generations, whose recklessness has destroyed the economy and any hope for the younger generation to save enough to compensate for their lack of retirement benefits, are once again looking to the younger generation to bail out their underfunded pension funds, so that they can retire in the style they've become accustomed to. When will the shamelessness stop? When will this game of musical chairs finally come to an end?
http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=alwTE0Z5.1EA
Most young people aren't promised a pension anymore and they certainly can't count on the looted Social Security "trust" fund to be there. Now the older generations, whose recklessness has destroyed the economy and any hope for the younger generation to save enough to compensate for their lack of retirement benefits, are once again looking to the younger generation to bail out their underfunded pension funds, so that they can retire in the style they've become accustomed to. When will the shamelessness stop? When will this game of musical chairs finally come to an end?