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Sunday, June 22, 2003


Short version: Pensions are vastly underfunded, businesses say they can't expand if they have to put all the money in their pension funds, Congress figures out a way to let them off the hook while fooling workers into thinking they will actually get a pension. Feel better now?
"The reason these funding rules were put into place was to protect the government insurance program, so the premiums wouldn't be too high and so the taxpayer wouldn't have to bail this out," said Richard A. Ippolito, a former chief economist of the Pension Benefit Guaranty Corporation, the agency that insures pensions.
Keep those corporate welfare checks a-comin'.....

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