Sunday, October 3, 2010

Pension Devastation

I receive a small monthly retirement check from the PBGC (Pension Benefit Guaranty Corporation). Because that pension is not indexed to inflation, it will never change in its dollar amount, but inflation will certainly reduce its value.

Because of outrageously reckless federal spending over the past several decades (which has accelerated astronomically over the past couple of years), I fear that inflation will soon soar. Consequently, I expect my modest but hard-earned PBGC pension to be worthless long before I die.

The Congress-caused economic troubles have also devastated my 401k account which is now worth less than half what it was just 2-3 years ago -- and even then, it wasn't much. While a corrupt Congress throws trillions of dollars at dubious "stimulus" projects and morally-destructive social programs (all of which defy the Constitution), those of us who actually worked hard to take care of ourselves and our families over the past 30-40 years are in serious jeopardy.

Since Congress, abetted by generations of presidents and a secretive Federal Reserve, is at fault for its unwillingness to control spending -- especially to support the nations human parasites -- I demand that Congress take immediate steps to make whole those of us who have actually earned our way through life. I earned every penny of that PBGC pension and every penny that used to be in my 401k account. I demand Congress to immediately protect the value of PBGC pensions by providing the funds necessary to index them for inflation. Those funds must come from their own pockets -- not the taxpayers. I also demand that Congress immediately restore a tax and regulatory environment where free enterprise can again flourish so that my 401k can recover quickly.

Where should the money come from? Directly from the pockets of every Congressman, and his heirs, who has introduced or voted for any unconstitutional legislation over the past 100 years.

Another, better, alternative is for Congress to comply with the restraints imposed by the Constitution on Congress and the federal government.

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