Friday, January 06, 2006
Bush To Blame For Retiree Benefits' Cuts?
Has anyone else noticed the correlation between Bush's proposed privatization of Social Security (which thankfully has not gone anywhere) and the recent push by companies to cut the benefits of retirees? Back in October GM had reached a tentative agreement with the United Auto Workers Union to cut health benefits of retirees, and other car manufacturers were following suit. Today, IBM announced that it too would be changing its traditional pension plan by 2008. Could it be that companies have caught onto Bush's plan to make workers contribute to 401K and other retirement plans instead of the companies having to contribute to the pension and retiree benefits of those workers retiring? Could this be the wave of the future? Have private companies, in an effort to cut costs, and make more profits for the owners and stockholders, screwed those men and women who for year sacrificed for this company, with the understanding and agreement that there would be a pension and health benefits at the time of retirement? Could it have been the Bush Administration that is to blame for this trend? I would say that it sure as hell could be. Bush & Company have done more to hurt the "little guy" than any president in recent history. And Americans don't seem to be able to see through this. Just look at how many of the "little guys" supported Bush in 2004 because he promised safety from the evil terrorists. But, Bush has done nothing to keep Americans safe from the terrorists within, the big company owners!