Blurryeyed Loc: NC Mountains.

Well, that's what I am assuming is what happens when they steal your pension....

"Emails obtained by The Daily Caller show that the U.S. Treasury Department, led by Timothy Geithner, was the driving force behind terminating the pensions of 20,000 salaried retirees at the Delphi auto parts manufacturing company.

The move, made in 2009 while the Obama administration implemented its auto bailout plan, appears to have been made solely because those retirees were not members of labor unions.

The internal government emails contradict sworn testimony, in federal court and before Congress, given by several Obama administration figures. They also indicate that the administration misled lawmakers and the courts about the sequence of events surrounding the termination of those non-union pensions, and that administration figures violated federal law."



Read more: http://dailycaller.com/2012/08/07/emails-geithner-treasury-drove-cutoff-of-non-union-delphi-workers-pensions/#ixzz22tpigIqu

LARRYR. Loc: Saint Martinville, La.

Didn't see the clip, but being 65, I'm stacking up on vinnies
and spam just in case we do have another 4 years of disaster
man and his irreconcilable hand pick team. Although I hear
cat food isn't all that bad, unless you should happen to talk
to our family dog.

Donwitz Loc: Virginia Beach, VA

If you are concerned with workers' pensions, read the article located at

http://www.delmarvanow.com/article/20120808/DCP02/208080331

The Republican controlled House is strangling the USPS by requiring BILLIONS of dollars to fund future pension needs. If the USPS does not get relief from Congress soon, all Post Employees will lose their jobs when our national mail system goes out of business. The employees that are too young to retire will never see any pension benefits.

Republicans don't care about blue collar workers or their benefit packages. They want all government services to be privatized. The TP and the Right Wing want the middle class to be under the thumb of big business. Right Wing websites like the Daily Caller love to twist the truth to make the Obama administration look bad. Do you really think that worker benefits will be more protected by a Romney administration? How successful was Bain Capital at preserving worker benefits packages?

Screamin Scott Loc: Marshfield Wi, Baltimore Md, now Dallas Ga

So let me get this straight. Since the USPS can't come up with the money to fund it's own retirement, you think the taxpayers should foot their fund?....That's the problem with defined contribution plans. Much is promised with lack of money set aside to pay for it. I retired & get a pension, but it was a defined contribution pension & I also put money into a 401k plan ( had a 6% employer match) so I planned for my retirement & didn't rely on someone else to give it to me. I feel for the workers, but I also think they should have not relied on someone else for their retirement.So, I wasn't under the thumb of business or the government. As far as Bain Capital protecting workers benefits, that's not what they were brought in to do. If Bain was brought in , that means the company was in dire financial straits to begin with & likely would have gone under anyway. So , it's more likely that they saved some people's jobs. Those who did lose them would have lost them anyway even if Bain wasn't involved.

dtcracer

The financial problems of the USPS is not due to any Government "strangulation", from either side. The financial problems of the USPS is due to less mail being sent through the postal service due to the advent of the internet (didn't Al Gore, a Democrat, take credit for inventing the internet?).

LARRYR. Loc: Saint Martinville, La.

Sort of reminds you of the auto bail out, I heard that the
auto plants that recieved bail outs are now setting up
shops over seas, I could be wrong but you want be hearing
it on NBC or CBS, besides its only taxpayer's money, who
cares. OH by the way I'm still working and I have to put
my money into my pention plan and will most likely end
up with nothing by the time I retire, I'm only 65 now.

Blurryeyed Loc: NC Mountains.

Actually it was part of the bailout.. those who were not apart of the union pretty much got the finger from the president... what is interesting about this article is that it point to white house and treasury influence in the process that was supposed to be completely independent from that influence, the email communications may point to the illegal involvement of both the treasury and the WH.

Now if I were Harry Reid I would be screaming from the Senate floor that the president and Geithner both are criminals... of course it has already been shown that Geithner is a tax evading criminal... but that seems to be unimportant to Mafia Inc... and the rest of the democratic party.

Donwitz Loc: Virginia Beach, VA

OK- go read this article at http://www.apwu.org/news/forthepress/pressrel120730-default.htm

Congress voted in 2006 to require the Postal Service to pre- fund 75 years worth of retirement benefits. No other federal agency has been required to do this. A law has been passed by congress to fund benefits for future workers that have not even been hired yet. They can end this phony crisis by passing a new law that only funds benefit for current employees.

Screamin Scott Loc: Marshfield Wi, Baltimore Md, now Dallas Ga

C'mon now, an article from the AFL-CIO...of course they will put their own spin on it...The law makes sense to me as without it, taxpayers would eventually have to pick up the tab for those pensions when the USPS couldn't...You are talking 5.5 billion a year, but the USPS lost 8.5 billion in 2010. So, even if they didn't have to fund it at that rate, the pension fund would still have been seriously underfunded...And you think taxpayers should pick up the tab?

Blurryeyed Loc: NC Mountains.

We all know that we don't need the postal service to deliver 6 days a week and we also know that except for seniors who do not use the internet that nothing important comes in the mail anymore.... Junk mail, and a few bills for those who refuse to use online billing and bill payment... so it is time to start scaling the mail service back... or should it be like every other governmental program... broke, busted, and funded by the general fund of the US treasury????? They are being required to meet the commitments that they have made to their workers and not come running to the federal treasury for a bailout... Actuaries have run the numbers and have indicated what needs to be done to keep the pension fund solvent... Dems want to claim foul, want to push this onto the backs of the taxpayers.... and you want to somehow say that congress is being unfair when it is one of the few responsible things that they have done in years...

Donwitz Loc: Virginia Beach, VA

We all know that we don't need the postal service to deliver 6 days a week and we also know that except for seniors who do not use the internet that nothing important comes in the mail anymore.... Junk mail, and a few bills for those who refuse to use online billing and bill payment... so it is time to start scaling the mail service back... or should it be like every other governmental program... broke, busted, and funded by the general fund of the US treasury????? They are being required to meet the commitments that they have made to their workers and not come running to the federal treasury for a bailout... Actuaries have run the numbers and have indicated what needs to be done to keep the pension fund solvent... Dems want to claim foul, want to push this onto the backs of the taxpayers.... and you want to somehow say that congress is being unfair when it is one of the few responsible things that they have done in years...[/quote]

OK- several inaccuracies...

1. The USPS does not use money from the General Fund. It generates all of the money used for mail delivery.
2. Actuaries had noting to do with it. The Postmaster General recently estimated over-payments into the retirement fund are around $50 Billion.

Read the article at-

http://www.pbs.org/wnet/need-to-know/five-things/the-u-s-postal-service/11433/

Also, a for profit privatized post office could not make money in some remote rural areas. That is why Fed Ex and UPS do not deliver to every zip code in the country.

LARRYR. Loc: Saint Martinville, La.

The more I think about it the be being in the union
isn't that bad after all,In fact I might even vote as a democrate if I can talk my boss into joining the union. In fact I beleave all these so call bad privately owned bad companies should all go union, like that if they should fail in meeting their pention payment then the good old USA
taxpayers could pick up the tab.But then where would they
get the money,RIGHT our good old boys in Washington DC.Just
think about it for a minute, every one would be happy,every
company would be unionized, no more big bad companies in the hands of the GOP and every one would get to ride on the
free for all band wagon.HOW DOES THAT SOUND!

Screamin Scott Loc: Marshfield Wi, Baltimore Md, now Dallas Ga

You didn't read his response. He didn't say the USPS was funded by the government, but rather was asking if you thought it should be...Thus it's not an "inaccuracy" as you claim.Your 2nd point about the $50 Billion in overpayments isn't substantiated in that article. As for a privatized USPS, that's basically what the article said European countries were doing to an extent. By tapping into the "Overpayment" as the article says, I don't see how it would even help with the way they are bleeding money. It would simply prolong the inevitable collapse. They need to restructure their operations & Union contracts now in order to remain solvent.That won't be done as long as it is being run by the Government...




OK- several inaccuracies...

1. The USPS does not use money from the General Fund. It generates all of the money used for mail delivery.
2. Actuaries had noting to do with it. The Postmaster General recently estimated over-payments into the retirement fund are around $50 Billion.

Read the article at-

http://www.pbs.org/wnet/need-to-know/five-things/the-u-s-postal-service/11433/

Also, a for profit privatized post office could not make money in some remote rural areas. That is why Fed Ex and UPS do not deliver to every zip code in the country.[/quote]

Blurryeyed Loc: NC Mountains.

OK- several inaccuracies...

1. The USPS does not use money from the General Fund. It generates all of the money used for mail delivery.
2. Actuaries had noting to do with it. The Postmaster General recently estimated over-payments into the retirement fund are around $50 Billion.

Read the article at-

http://www.pbs.org/wnet/need-to-know/five-things/the-u-s-postal-service/11433/

Also, a for profit privatized post office could not make money in some remote rural areas. That is why Fed Ex and UPS do not deliver to every zip code in the country.[/quote]

The post office is not solvent and it is looking to the Federal government to relax its pension funding which will inevitably end up with a taxpayer bailout of the pension program as well as funding to current operations.... what you are trying to portray is less than honest.




Read more: http://www.nypost.com/p/news/opinion/editorials/us_postal_fiasco_zDNUTJXyrNHFAfXPvZNAIM#ixzz22ylxMKvl

Bill Emmett Loc: Bow, New Hampshire

You are right. As a retired Federal Employee, I know the Postal employees are covered by the Federal Employee Retirement System, or FERS. This system came to be under Regan administration to replace the Civil Service Retirement System or CSRS. The FERS retirement cut the old CSRS retirement drasticly. During the Regan years the Government became heavy handed about employees converting from CSRS to FERS. The amount of false information about FERS caused many employees to convert from CSRS to FERS, and actually lost money from their pensions. The FERS did have one good thing, and it is the Thrift Saving Plan, where a employee could save up to 10% of his base pay with matching funds up to 5%.
But, Federal pay is so low as compared to private industry, many could not afford to put much money into the fund. Plus, dear Ronald made Federal Employees pay for insurance, both health, and life insurance. A GSA study found that Federal Employees were paid 25% less than their private industry counter parts. A bill ran through Congress to increase the Federal wage, at 5% per year until the pay meant the private sector, but Congress did not fund the bill, thanks to the Republicans. So, Ronald Regan gutted the Federal Retirement System, failed to grant a raise to Federal Workers. Federal Employees today only get what the Government deems to grant based on the national COLA. A actual raise would be to raise the GS Grade 1, step 1 a decent percent, and base the COLA on that amount. It is no wonder Federal jobs are spread all over the country, so Federal Employees do not gain a voting block against the politicians who hold the purse. Oh, yes, Federal Unions cannot bargain wages, how convienent. If the Republicans get their way in November, the middle class of America will be eating cat food.