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How the Ruling Class Engineered the Dismantling of Pensions

Alliance for Retired Americans stands up for retirement security for all

Hugh Campbell of Philadelphia sends us this

The U.S. financial elite had its best 25 years ever from 1982 to 2007, while the majority of American voters have tolerated the unresponsiveness of their government leaders because they felt like they were also getting ahead. The excerpt, “Without a Pension’s Security,” from the book The Betrayal of the American Dream, by Donald L. Barlett and James B. Steele, tells how the ruling class has engineered the dismantling of pension security provided directly by employers.

The truth that most American voters were not getting ahead was masked by underpriced imports subsidized by foreign governments to gain market share at the expense of American workers and by artificially low U.S. interest rates, while the underfunding of Social Security and Medicare was being kicked down the road.
Now major adjustments in benefits are being proposed instead of adequate funding.

The Romney-Ryan plan to put our fiscal house in order will result, at best, in a lost generation for the American majority, because its execution is on the backs of the middle class. In all likelihood, only after this occurs will most Americans realize they were fooled.

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