Pension Benefit Guarantee Corporation Running Out Of Cash, Millions Affected
by Tyler Durden Mar 3, 2017 5:08 PM
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The Pension Benefit Guarantee Corporation (PBGC), an entity created to “guarantee” pensions of private corporations, is on the verge of bankruptcy.
Teamsters and other unions are poised to take huge pension hits. Previously, airline employees have taken a hit.
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Can the Gooferment ever run out of the money it prints?
But that being said this is one of those “unfunded liabilities” in that “the current 18T+ national debt and the guesstimated 200T+ in unfunded liabilities that our posterity will have to deal with” that I grouse about.
Now unless the life span of fat old white guy injineers magically increases, I won’t be around for when the crushing debt and defaults hit.
Personally, I think the Gooferment politicians and bureaucrats will just inflate the debt away and there goes any savings denominated in dollars.
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