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4dsc

(5,787 posts)
Sun Dec 21, 2014, 10:32 AM Dec 2014

The Register's Editorial: Cutting pension benefits is bad but necessary

Congress packed a lot of extraneous issues into the massive $1 trillion spending bill passed just before adjourning last week. Among them was a provision that allows pension benefits to be reduced for about 1.5 million retirees. That is bad news for those pensioners, but the alternative would be even worse.

The cuts are necessary because those retirees' pension plans are seriously underfunded and projected to go broke within the next 10 years. If the payouts are not reduced to extend the life of these pension plans, some retirees could see their benefits slashed by as much as 95 percent.


http://www.desmoinesregister.com/story/opinion/editorials/2014/12/21/cutting-pension-benefits-necessary/20722875/

The attack on Social Security is coming folks.
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The Register's Editorial: Cutting pension benefits is bad but necessary (Original Post) 4dsc Dec 2014 OP
why no bailout for them? belzabubba333 Dec 2014 #1
And the people responsible for the "underfunding" get no consequences. djean111 Dec 2014 #2
Any cuts in management pensions? Downwinder Dec 2014 #3
Hogwash! This was deliberately engineered. procon Dec 2014 #4
Well, now they have the template rurallib Dec 2014 #5
here is what you need to know about those pension cuts -- PLEASE READ! antigop Dec 2014 #6
I think you are correct about SS cuts. nt antigop Dec 2014 #7
And it's DEMOCRATS who will support the TOTALLY UNNECESSARY Social Security cuts Triana Dec 2014 #8
 

djean111

(14,255 posts)
2. And the people responsible for the "underfunding" get no consequences.
Sun Dec 21, 2014, 11:07 AM
Dec 2014

Yes, I believe Social Security, the USPS pension fund and health care fund, and pensions for all but the higher government employees will all be enthusiastically attacked. That veto pen just may be a killer or savior of the next presidential election for the Dems.

procon

(15,805 posts)
4. Hogwash! This was deliberately engineered.
Sun Dec 21, 2014, 11:51 AM
Dec 2014

So, lets unpack this malarkey. Here we have another Republican run state government that made shady backroom deal to cut corporate property taxes. Then they had to steal money from wage earners to balance the books.

Maybe if they had not passed the "largest tax cut in Iowa history" that gave away juicy handouts and other corporate tax subsidies that only benefit big business, there would be more tax revenues available to pay those retirees pension benefits they earned.


Governor, lawmakers brag about largest tax cut in Iowa history

antigop

(12,778 posts)
6. here is what you need to know about those pension cuts -- PLEASE READ!
Sun Dec 21, 2014, 01:19 PM
Dec 2014

The Central States pension fund is a big part of the problem. What you need to know about Central States:

http://www.democraticunderground.com/?com=view_post&forum=1002&pid=5975589

 

Triana

(22,666 posts)
8. And it's DEMOCRATS who will support the TOTALLY UNNECESSARY Social Security cuts
Sun Dec 21, 2014, 02:59 PM
Dec 2014

Republicans always did. Not so Democrats.

But NOW that Democrats are mostly just Repub Lite, most support gutting Soc Security.

Every American who isn't fabulously wealthy is just a sitting duck waiting for these assholes to shoot us down.

And the IDIOTS who either voted Republican or didn't vote AT ALL are mostly to blame for the fact that most of us will never be able to retire or if we are forced to, will do so in abject poverty. That's what happened BEFORE social security and it will be that way again.

Congratulations. The New Deal is dead.

Someone here once told me: "relax. Obama will veto any Social Security cuts."

NO. He won't. He supports them and he has said so.

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