Michael Barone: Defined-benefit pension plans, as he calls Social Security, Medicare, and other pension plans, were very generous but are now in trouble. As he defines them: "It's when your employer promises to pay you a certain amount of money, pegged to your salary or according to some other formula, when you retire."
We can't afford them anymore. This means as I see it that the basic premise of the New Deal and Great Society are unsustainable. Finished.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment