America's pensions crisis

[Orrin_73]

"US President George Bush says the country's Social Security system is crisis. In less than 40 years, he told the nation this week, the entire system will be "exhausted and bankrupt" unless drastic measures are taken."

The alternative that they propose is this.
"One (private) pension plan after another has failed in this country - Worldcom, US Airways, Bethlehem Steel, Consolidated Freightways - all the victims of bankruptcies and restructuring and buyouts and mergers."

"Interestingly, you don't hear a great deal from the Bush administration about the failure of private pension plans, a crisis facing many workers in the present tense - not in some indefinite future tense."

A very powerful article by BBC America's pensions crisis

[The Backlash Cometh]

1. Nice parallel. If we can't get a corporation to honor its pension or

protect it from raiding it when times are lean, then we certainly can't expect privatized social security to work.

Good, good job. Boy, why didn't we see these things earlier? The Republcan's market philosophies are falling apart right in front of our eyes.

[FloridaPat]

3. SS fund has already been raided by the gov't. The corps are just

following the gov't. All that money sitting there ready to grab. Hard to resist.

[cyclezealot]

2. not only corporate pensions

We invest so much in insurance companies. I recall a study on their financial stability. It suggested you had better research their financial standings. 401k's. That is our future, better plan on dying after about 10 years into retirement.