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Sun Nov 10, 2013, 07:49 AM

The Pension Theft Crime Wave Rages On

http://www.alternet.org/economy/pension-theft-crime-wave-rages



The nationís union-haters have a juicy new target, Detroitís public employees, ever since the city became the largest in history to file for bankruptcy. Detroit unions will wrangle with a bankruptcy judge this fall over how to handle $3.5 billion in pension obligations for 12,000 retirees.

City retirees receive a princely sum of $19,213 per year on average. Pension obligations to these workers account for less than 20 percent of Detroitís debt. But the facts havenít kept retirees from bearing the brunt of the bankruptcy fallout.

In fact, politicians across the country are seizing on Detroitís hard times as an excuse to trim public pensions closer to home. For themóand for bankers angling for a piece of the actionóthis could be the breakthrough theyíve been waiting for.

Lawmakers from both parties have climbed onto the same noisy bandwagon as right-wingers who complain that public pensions are too fat, ballooning out of control because of unions run amok. They throw in the fact that retirees are living longer, and tout the soon-to-be swollen ranks of retiring baby boomers, to add some statistical cover to their judgments and finger-pointing.

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Arrow 5 replies Author Time Post
Reply The Pension Theft Crime Wave Rages On (Original post)
xchrom Nov 2013 OP
Laelth Nov 2013 #1
socialist_n_TN Nov 2013 #2
Laelth Nov 2013 #5
leftstreet Nov 2013 #3
Enthusiast Nov 2013 #4

Response to xchrom (Original post)

Sun Nov 10, 2013, 09:53 AM

1. k&r for the truth, however depressing it may be. n/t

-Laelth

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Response to Laelth (Reply #1)

Sun Nov 10, 2013, 01:40 PM

2. Laelth, I'll be you get tired of typing that same line.........

ALL OF THE TIME! Kick for exposure.

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Response to socialist_n_TN (Reply #2)

Mon Nov 11, 2013, 07:34 AM

5. Sadly, it's one of my stock responses, but yes.

I wish I did not find the news depressing so often.



-Laelth

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Response to xchrom (Original post)

Sun Nov 10, 2013, 01:42 PM

3. They want every last penny in our pockets



DURec

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Response to xchrom (Original post)

Sun Nov 10, 2013, 07:30 PM

4. All I have ever heard from TV is that pension obligations are responsible for the bankruptcy.

You simply will not hear the contrary argument.

Once again, we are the victims of a one-sided unfair media.

Bring back the fairness doctrine!

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