Page 933 - Pensions News Today

It in the summer, and you will not stop me from buying oreos, because my kids love them but well take away my extra discretionary incomer for you me to put back into the economy. >> trace you, what you said is what they do with the tax and hit the nail on the head, providence, rhode island is bankruptcy, detroit, michiganics bankrupt. counties in oregon are not patrolling outside the city because they cannot afford it. politicians are not balancing the budgets and are looking, instead of dealing...

Illinois, there is growing outrage over new reports that former chicago major richard daley is using his political influence to boost his pension by roughly $50,000 a year. this in a state making massive cuts as it faces one of the worst budget messes in the country. fox business networks stu varney joins us now with more. weve got governor "blago" in jail, and youve got mayor daley, hes a beloved figure, though. >> well, this puts a famous name and a famous face on a national problem -- megyn: ...

And yet more hypocrisy. sometimes it just jumps right at you. all over america, big companies and state governments cannot pay the pensions that they promised to pay for their former and their retired workers. >> why is that? >> because the benefits are extraordinarily generous and the pension funds have been run down because of the recession and they create actual panic. "new york times" is in that situation. they have an underfunded pension plan for their own unions. $522 million underfunded s...

These dumped employees to go. bill: was that the intent all along, do you believe? >> certainly republicans believe that. by setting a fine, a penalty that was so low that created a financial incentive to drop employees from, employer health coverage, certainly republicans suspect that the design all along was to push people into these exchanges. bill: one of those republicans is dave camp from michigan, right? >> right. bill: he says clear to me because of this law americans will not be able to...

Pretty soon old-fashioned pensions are rare as they are today. bill: one fine point on this. employers spent $1097 on health care benefits. exchange that for $2,000 fine you have a answer. you want to balance the books and save money there is the way to do it, right? >> the estimate by 2014 that will be $6500 per employee and you know, in comparison to a $2,000 fine. bill: so you save two third eventually. byron, thank you. well see where this goes. you were right by this in august of 2011. we f...

Got a whole bunch of government dough. >> well, you know, if you look at what mitt romney said originally, he did talk about a managed bankruptcy and thats what it was. it was a managed bankruptcy. and it worked out and everybody is sort of happy, i think. some people arent real that the government put up all that money. >> didnt work out for some of the people, though, that lost their pensions because it was a structured bankruptcy and a lot of people argue that the unions were the ones who ben...

Lifting all boats. >> not as special movements. >> that the labor movement was used as a vehicle to increase everyones economic equality. eight-hour day, pensions, retirement security. health care, whether it was wages. and so we actually have a very important first step before we start talking about strikes. which is that we are not an island, we are a bridge-maker to all workers. >> and theres a particular -- >> we have to rethink -- >> and be broader about it. >> its going back to the differe...

Also deliver your mail hopefully. >> sure. interesting enough, the u.s. postal service lost $3.3 billion in the last reporting quarter which ended on december 31st which is the christmas mailing season which should have been a time when they made a lot of money. and the board of governors of the post office say that this thing passed by the senate doesnt cut it up. they want to close a bunch of offices and they say there is not enough mail in the system anymore because people are sending e-mail....

So under federal law we are obligated once we become the certified bargaining agent for a particular unit that we have to represent them under federal law. now the state is saying that we cant charge for those services or recoup any of our fees and therefore we get a whole bunch of freeloaders in the system. so we are having our services commandeered and it is a forced representation without compensation. megyn: why cant you just say, you know, i have a problem with that, indiana and im not goin...

>>guest: disconcerting. >>neil: you know, amtrak has been the company that has surprised because democrats and republicans alike on the washington corridor like the convenience and it has a lot of friends. >>guest: and we have a vice president who went to work on amtrak every day for a number of years. that comes into play, as well. >>neil: so maybe this makes it more appealing and more of a money maker. >>guest: we have seen in the past two years, ridership is going up, yet the profits or the c...