12-11 12:10pm Garland, losing federal pensions
A federal court has given financially strapped cities an opening to ignore their constitutions and reduce pensions for public workers. Cities and states can now backtrack on their promises. Question: who will become a low paid city worker in the future, if pensions aren't guaranteed? Garland was joined by Senior Fellow with the Cato Institute, Mike Tanner.
sector. -- Did tell me -- -- wrong 1974. You talk about businesses . Pension law was enacted set up a federal pension insurance program. Acquired companies and promised pensions to bomb them and also give the government power -- penalize the company is that they build upon their benefits so. There there is a mechanism in their attitude to assure that is or not. Bet that that there right there is federal pension guaranty corporation which some 25. Billion dollars believe in the red right now. Coming out of the recession. That's -- -- be bailed out as well. Beers also media companies are basically you can go to jail if you make promises. There's such a pageant system