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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (29896)	11/25/2008 8:42:26 AM
From: Peter Dierks	Read Replies (1) \| Respond to of 71588

As far as the pension benefit payouts under a government-assumption of responsibility --- federal law CAPS payouts at 'no more than' $40,000 a year... so many current pensioners would see very large cuts in their payouts. It worked for many in the airlines industry. Anyone who is planning on collecting underfunded defined benefits plans is not being realistic. Why current workers should give such a generous gift to retirees is puzzling. Perhaps they think if they stop funding the Ponzi scheme they will never collect their oversized benefits. Although I know far less about the industries Health Care plans, I assume that a government takeover would reduce payouts there as well. Perhaps. The information available previously indicated that the health care plans for UAW were excessive. Bankruptcy (where all current equity is extinguished... and likely around 1/2 of the debt is force-converted into new equity, producing the industries new owners along with a reduced debt load) is the only option that can 'save' an American auto industry. That isn't going to happen. The only thing that is going to save the industry is bankruptcy in which the union contracts are torn up and comperable employee costs are implemented. There are still a few fools that will buy American no matter the cost, but not many and not a lot of dollars. The government assumption of health care and pension obligations will wipe out the curent budgets of these respective Agencies (Pension Guaranty Agency, etc.) and will require probably an immediate trip to Congress for much larger appropriations and a rise in the fees they access on companies for this insurance, just to be able to fund these government assumptions of the debt. Obama is proposing to spend more on the new new deal in two years than the cost of liberty for Iraqis over seven years. So what? Didn't you know government money is free and adds to the economy? That appears to be the meaning of "change you can believe in". Because sane people know it is false, only liberals can believe in it. If we are to NATIONALIZE the truly massive health care costs of one of our largest industries (giving them a competitive advantage over others...) then WHAT ABOUT OTHER AMERICAN INDUSTRIES? So what? When we protected the steel industry it wiped out many steel manufacturing businesses in the US. The Chinese bought the factories in bankruptcy and moved them to China. Now we couldn't afford to rebuild many of these at any competitive even if the tariffs were leveled. Who cares about a few more? I remain OPPOSED to 'special benefits' to just one industry (such as the auto industry....) It is unlikely that your and my opposition together counts for anything with the incoming Congress and Administration. Remember Obama is the most partisan liberal in the Senate. He has never listened to anyone to the right of leftwing extremist. why not use that same amount as down-payment of health care reform, with the goal of providing the same financial benefits to ANY and ALL American companies? Why spend that much on it? If we wanted real meaningful healthcare reform we could do it in fifteen minutes. Just de-Balkanize the health insurance industry. It would eliminate the state government mandated benefits that cause most of the excessive costs.