Bush urges business to protect pensions

[IChing]

(Give me a break)

By DEB RIECHMANN
Associated Press Writer





KERNERSVILLE, N.C. (AP) -- President Bush called on American businesses on Monday to live up to their pension promises, saying too many companies are not putting away enough money to protect the retirement benefits of their workers.

"My message to corporate America is you need to fulfill your promises," Bush said. "When you say to a worker, `This is what they're going get when they retire,' you better put enough money in the account to make sure the worker gets that what you said."

In a speech on the economy, the president said federal rules governing pensions are confusing and misleading and allow companies to technically play by the rules without funding the promises they make. In the end, taxpayers wind up footing the bill because of federal pension insurance, he said.>>>>snip
http://hosted.ap.org/dynamic/stories/B/BUSH?SITE=FLSTU&SECTION=HOME&TEMPLATE=DEFAULT

[Deep13]

1. ...as he closes a door on the now empty barn.

asshole

[shoelace414]

2. so is he going to supply a law that cracks down on business?

[Megahurtz]

11. Isn't he the guy that supplied the law

that businesses can fire anyone anytime they want to for no reason?
No wonder there are so may "layoffs" (firings) and temp-hirings!

Yeah, sounds like those businesses owe everyone those retirement pensions!:sarcasm:

[rodeodance]

15. in your dreams!

[sinkingfeeling]

3. Is this clown a joke or what? He's the president, he should do

something more than tell American businesses to live up to their pension commitments! Why don't you urge your administration to adopt different rules, like the calculation of defined benefits being changed to contribution type schemes (cash balance) which cheat the older worker? Why don't you have your GOP controlled Congress pass a law holding the businesses liable for their pension plans?

I can talk, but I can't change a damn thing!

[kurth]

4. Dracula urges vampires not to suck blood

[Deep13]

7. Stay away from the Dark Side of the Force, urges Darth Vader.

[IChing]

18. The fables of Aesop

Need to be looked at again

"the wolf and the sheep"
Moral
Hypocritical speeches are often seen through




" the Laborer and the snake"
Moral
No one truly forgets injuries in the presence of him who cause the injury.

[smb]

5. Do As I Say, Not As I Do

"When you say to a worker, 'This is what they're going get when they retire,' you better put enough money in the account to make sure the worker gets that what you said."

You mean like the government's Social Security system? :eyes:

[fshrink]

6. Amazing how often

the idiot "urges" this or that. That's in fact one of the defining features of this style: actively carrying out a plundering agenda and verbally standing for morality. Costs nearly nothing, goes on record, apparently preserves non-interventionism and works just fine. Just like "compassion". And like all the rest: holds by the paint.

[Gman]

8. Ok. So what's in it for him and his buddies?

There's a catch here. He just doesn't say these things because he thinks it's the right thing to do.

[calico1]

9. Oh, I see.

Make it easy for corporations to screw employees. Then ask them to be nice? :mad:

[DemoTex]

10. As a victim of pension termination, I wave the bullshit flag on Bu$h.

My pilot pension plan was terminated on 3/31/2003. The then-CEO of US Airways, Dave Siegel, took a $10-million dollar severance package with him when he was ousted later that year. That is the kind of wanton behavior Bu$h needs to address. Instead, we get piss-warm platitudes about "pension promises." Bu$h and his rapacious regime are a big part of the problem.

[daleo]

12. Whenever conservatives "urge" business not to do something

It means they are giving them carte blanche to do just that - in other words, they don't plan to legislate against something, just mouth pious "urgings" and let business do whatever it likes.

[depakid]

13. Republicans have been encouraging pension looting since Reagan

Nothing has changed- and they still fight every law that might hold corporations accountable.

[Bob3]

14. Huh? Sound of head exploding

God in heaven you can't keep up can you? No matter how cynical no matter how evil, no matter how hypocritical you think these people are, * keeps managing to push the envelope of hypocrisy into realms man has never dreamed.

How he, as the paid for representative of the very class of people that have looted pensions for the last 20+ years (and who look to continue to do it if the recent news is any guide) can stand there and say shit like this is beyond me. Anybody mention Enron to him? HMMMM? Well I've reached my limit. If he came out tomorrow saying that Abortion is wrong because he needs babies to eat I wouldn't be surprised.

:wtf:

[rodeodance]

16. Here is his 'logic'

.........In a speech on the economy, the president said federal rules governing pensions are confusing and misleading and allow companies to technically play by the rules without funding the promises they make. In the end, taxpayers wind up footing the bill because of federal pension insurance, he said.>>>>snip

[IChing]

17. It is one the most in your face two faced lies I have heard lately

I suppose he said this as a sound bite for the common ignorant supporter. But it is one of the biggest bold face lies as the clean air, no child left behind and brownie your doing a heck of a job.
Right wing courts have let business do the opposite with support by federal and private arguments and rulings.

[Journeyman]

19. The Pension Benefit Guaranty Corporation is pretty little scam. . .

for those who can crowd under its ever-diminishing umbrella.

It's such an idiotic approach: Corporations make baseless promises to their workers, take no steps to ensure the promise is funded properly, and then their duped employees expect the government -- and by extension, those of us who may not even be covered by such a bogus promise -- to cover the costs of what proves to be a miserable lie the workers were told by the corporation for which they labored.

In retaliation, I started a defined benefit pension for my employees this year -- it's only my wife and a couple of other people, but under my plan I've promised them all a pension of $18,600 a month, plus beer money and medical insurance, payable on the first month after my company goes bust (when my wife will need a retirement plan to take the place of our current draw). Since the PBGC is in the business of funding the outrageous lies corporations blather to their minions, no one will mind if it takes over and begins payments to cover the falsehoods I've passed off to keep my employees happy (and stupid).

Can anyone tell me how my plan differs from that of the Big 3 automakers or the airlines, or any of dozens and dozens of large corporations, who have also made no provisions to adequately fund the falsehoods they are foisting on their employees, lies they expect the people and the federal government to make good?

[Thor_MN]

20. Bush said nearly 4.5 million new jobs have been added since May 2003

hmmm, let's see, 32 months times 155K jobs needed just to keep pace with population growth would be, ummmm, 4.96 million jobs. That means, in *'s best job growth period, igoring all the job losses of 2001-2003, counting Mcjobs and Wal-jobs as careers, he is still 460 thousand jobs short of breaking even. And he's bragging about it?

When are the majority of people going to realize that he and his cronies are a clusterfuck?

[rucky]

21. wow. he really DOES care.

:sarcasm:

What scares me is that ususally when he makes a speech like this, he approves some legislation that does the opposite within days.