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|Subject: George W. Bush Killed Retirement||Date: 11/5/2012 11:55 PM|
|Author: intercst||Number: 46106 of 70828|
Interesting article about how the Bush Economic Collapse has extinguished the retirement dreams of many young workers. The Chickenhawk Decade screwed an awful lot of people.
The economic downturn is pressing more employers to reduce pension benefits and significantly delaying when people launch their careers, darkening the already bleak picture that young workers face in saving for retirement.
Corporations have been slashing pensions for decades, but such cuts are common now in the public sector, where retirement benefits were traditionally much better. In both cases, employers frequently reach for the same tool — preserve benefits for current employees but make severe cuts for new ones.
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