Comments on: Germany: A Sneak Preview of the US Without Social Security Reform and Entitlement Reform http://www.bizzyblog.com/2005/09/16/a-sneak-preview-of-the-us-without-social-security-reform-and-entitlement-reform/ The Business End of the Blogosphere Sun, 21 Mar 2010 04:23:49 -0700 http://wordpress.org/?v=2.8 hourly 1 By: TBlumer http://www.bizzyblog.com/2005/09/16/a-sneak-preview-of-the-us-without-social-security-reform-and-entitlement-reform/comment-page-1/#comment-1523 TBlumer Fri, 16 Sep 2005 16:07:42 +0000 http://www.bizzyblog.com/?p=502#comment-1523 That post is very good. What else is good if you haven't checked it out is Willisms.com's weekly Social Security-related posts (he's up to about 40). I'm hoping he doesn't hit a pet SocSec topic of mine before I get around to it (I'll keep suspense buidling). As to PBGC, NWA and Delta may be the "perfect storm" that brings PBGC down or finally convinces people that the government backstop needs to be withdrawn. We should not be absorbing this ourselves, either through higher taxes or higher PBGC premiums assessed on the companies who still have pensionse, the costs of which are of course eventually passed through to consumers. That post is very good. What else is good if you haven’t checked it out is Willisms.com’s weekly Social Security-related posts (he’s up to about 40). I’m hoping he doesn’t hit a pet SocSec topic of mine before I get around to it (I’ll keep suspense buidling).

As to PBGC, NWA and Delta may be the “perfect storm” that brings PBGC down or finally convinces people that the government backstop needs to be withdrawn. We should not be absorbing this ourselves, either through higher taxes or higher PBGC premiums assessed on the companies who still have pensionse, the costs of which are of course eventually passed through to consumers.

]]> By: Porkopolis http://www.bizzyblog.com/2005/09/16/a-sneak-preview-of-the-us-without-social-security-reform-and-entitlement-reform/comment-page-1/#comment-1522 Porkopolis Fri, 16 Sep 2005 16:00:22 +0000 http://www.bizzyblog.com/?p=502#comment-1522 And of course our politicians are going to claim they can't walk (Deal with Katrina Disaster Relief) and chew gum (deal with Social Security/Medicare structural issues) as the same time. Another preview of the pitfalls with over-promising defined retirement benefits can be seen with the corporations that are starting to renege on private pensions; thus placing the burden on the Pension Benefit Guaranty Corporation (PGBC). I posted some thoughts on this at <a href="http://porkopolis.blogspot.com/2005/05/tremors-before-earthquake.html" rel="nofollow">Tremors before the Earthquake</a>. And of course our politicians are going to claim they can’t walk (Deal with Katrina Disaster Relief) and chew gum (deal with Social Security/Medicare structural issues) as the same time.

Another preview of the pitfalls with over-promising defined retirement benefits can be seen with the corporations that are starting to renege on private pensions; thus placing the burden on the Pension Benefit Guaranty Corporation (PGBC).

I posted some thoughts on this at Tremors before the Earthquake.

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