Brady not ruling out $50 billion pension borrowing idea - chicagotribune.com

Brady not ruling out $50 billion pension borrowing idea - chicagotribune.com


Here's the deal with me as for how this headline comes across. It is nothing more then a ponzi scheme. It doesn't matter if a democrat, or republican is involved, all they want to do, is rip off workers.

The only way for "Bright Ideas" like this to go away, is for workers to stop participating in these plans, and just open a simple savings account. Such logic even applies to the super ponzi scheme; the infamous 401k. With this plan it's up to the worker on whether or not participation is a good thing. As for myself, I never gave a dime into such a plan. I saved. Some may argue that not all plans are evil. But if you look around, people have been getting burned by politicians raiding any pension fund they can get their cruddy little hands on. And please never forget how they gambled away the 401K's on Wall Street.

Pat Quinn did something right. And mind you, this isn't a ringing endorsement of him. But he made it "harder" for new hires to get into such plans. What that translates into, is a simple message. Put your money into a Community Bank Savings Account. Here's his little rule: "Quinn signed into law a pension overhaul this year that focused on making it tougher for new employees to get the benefits. It's a law Quinn has estimated saved him hundreds of millions of dollars in the current budget and hundreds of billions of dollars over time."

So, with that said. No more "bail-outs, no more sleazy politicians raiding pension plans, and for the love of God, stop contributing to that ponzi laden 401k. Learn from your mistakes, and invest in you, not Wall Street again.