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To: donald sew who wrote (57900)	11/21/1998 4:50:00 PM
From: HairBall	Respond to of 58727

donald: I also read that the pension funds were also in crisis in JAP. I dont know if that is included in the Trillion debt, of over and above it. It is a separate problem. The Japanese Government is allowing the Banks to operate as "Zombies" because they are afraid to deal with it. The Japanese need a lot of reform in their Banking system. The Japanese are not alone with regards to pension fund problems. That was one reason for the introduction of the 401K. In addition, our own Government has been stealing the excess funds from our Social Security program for decades. During the Reagan years a decision was made to dramatically increase SS revenues to bring in surplus. This was done, so the Boomers could take the majority of the burden off the next generation's shoulder, by financing their own retirement. But no, the Democrats had to take that money and put in IOUs. Of course, now SS is referred to as "pay as you go", with no mention of borrowed/stolen SS money! Regards, LG