pattisw

Wall Street Breakfast: Must-Know News

If Gm goes bankrupt it will throw thousands more on the unemployment roles and a few hundred thousand retirees into poverty.
The guaranteed government pension is a substantial cut in the pension now received.Ours would be cut in half.We would not be able to stay in our home or keep up our vehicle payment(repo time).We are a tiny sample,there will be more home foreclosures,repossesi... card default,food stamps needed and $13.5 billion needed by the government pension plan.It is underfunded and will need government aid,so the taxpayers will be paying anyways.
Many retirees are too old to get a job and those that are not...well where would you get a job in a state like Michigan where I live? Wouldn't it be cheaper and better in the long run to LOAN GM the money and get it paid back someday than to spend billions that will never be repaid?
Obama will never be elected to a 2nd term if he stabs the union in the back and allows the retirees to be thrown away(think AARP,UAW support).