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Given that the current government bailed out private pension plans to the tune of $86 billion dollars as part of the latest COVID-19 relief bill [1], I am not c
by drdec 5y ago
Given that the current government bailed out private pension plans to the tune of $86 billion dollars as part of the latest COVID-19 relief bill [1], I am not concerned that they will soon tackle the government pension funds which have also have shortfalls.
According to the article, the private pension bailout was "paid for" by ending the enhanced unemployment program in August instead of September. Of course, you don't pay for new spending by "cutting" other new spending.
[1] https://www.forbes.com/sites/ebauer/2021/03/10/the-covid-relief-multiemployer-pension-bailout-is-completenow-what/ https://www.forbes.com/sites/ebauer/2021/03/10/the-covid-rel...
- bradleyjg 5y agoNote that the bailout came with absolutely no strings attached. Apparently nothing went wrong that caused an $86 billion shortfall so no changes need to be made going forward.
- tolidano 5y agoNow do college tuitions, bank bailouts, auto bailouts, solar subsidies, oil subsidies, farm subsidies, and all the other nearly countless ways that the government plays around with your tax dollars to put the money into the pockets the current administration and Congress decided was the most important.
- bradleyjg 5y agoAfter the bank bailouts they passed Dodd-Frank. We could discuss whether it was adequate but at least it was something.