Thursday, August 13, 2009
Delphi and PBGC settle pension dispute - WSJ.com
Think about this: the current administration preaches equality while providing special treatment to certain groups of people at the taxpayers expense.
Does anybody see this?...
Does anybody see this?...
The Wall Street Journal writes about the latest and summarizes their editorial with:
"When the PBGC was created in 1974, Democrats running Congress assured everyone there was no taxpayer risk because the agency would be funded by fees from pension plans, as well as by the assets of plans the company takes over. But like Fannie Mae, we are learning that sooner or later these government guarantees always come due. Now the PBGC has a $33.5 billion deficit even before Delphi, and more bankruptcies are headed its way. Mark it down as one more way the taxpayers are being put on the hook for GM, the UAW and Michigan’s 17 electoral votes in 2012."
