pensions act
Did Pres. Bush do the right thing by forcing the Pension Reform Act on Congress?
Positive:
It will insure that existing Retired people receive the pension that they have earned.
It will insure that people who work under a pension plan have a better chance of getting the pension they have earned..
It will force companies to contribute higher premiums to the federal insurance programs that, when pensions fail, pays employees a portion of what they were due.
Negitive:
Many companies will either eliminate pensions plans or greatly reduce the amounts earned.
It excludes some industries from immediately getting “on Board”.
It does nothing to bring employees up to the same level of pension that Congressmen now enjoy.
It does nothing to narrow the gap between Fat Cat Federal Employees and employees in the private sector.
[Note that Federal Employees enjoy a hugh pension compared to employees in the private sector and their average wage is more that twice the average wage in the private sector]
Unfortunately I have come to believe that he almost never does the right thing anymore, if he ever did. I’ve tried to judge him on his deeds, not my personal feelings. I think he did this to placate people over their fears about the crumbling social security issue and, like everything else of late, to divert attention away from his various foreign policy fiascos.
IFAtv News – Pension Act 2008
