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Editorial: Cutting pension benefits is bad but necessary
Congress packed a lot of extraneous issues into the massive $1 trillion spending bill passed just before adjourning last week. Among them was a provision that allows pension benefits to be reduced for about 1.5 million retirees. That is bad news for those pensioners, but the alternative would be even worse. The cuts are necessary because those retirees’ pension plans are seriously underfunded and projected to go broke within the next 10 years…Read More
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