View single post by ashbel
 Posted: Sun Dec 21st, 2008 10:20 pm
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ashbel
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Joined: Fri Jan 25th, 2008
Location: Fort Worth
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Doc
401K's and pensions covered by the Pension Guarantee Trust are two different things.  Pension's are "insured" much like the FDIC insures bank deposits.  Companies that offer pensions pay a percentage of their deposits each year to insure the continuation of their programs - even if they go bankrupt.  This program was started in the 1970's and was in pretty good shape until a few years ago.  Now it is several billion dollars in the red.  Any deficits in the Trust are guaranteed by the government.

All government bailouts represent a "slippery slope."  Where do you stop?  I, for one, favor those that keep the most jobs.

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