Discussion for article #227103
Kind of amazing their pensions had inflation protection. It’s a big concession to give it up, particularly for people who lived thru the double-digit inflation of the 80s. Say inflation is about 3%, 10 years into retirement that will be about a 25% cut in spending power, making the initial 4.5% cut look small.
It is interesting to note that the big money boys who made the mess feel that the pensioners who had nothing to do with the monetary hanky-panky should be the ones to bear the costs of the mess. Don’tcha think the pensioners always had their portion of pension contributions deducted from their pay? Nothing like that Pubbie doctrine of personal responsibility.
republicans fucking the working folks again, that is all this is.