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Monday, May 16, 2011

Welshing on Pension Obligations

Is Treasury Secretary Geithner's move to stop making payments into Federal pension plans a smart move or dumb?

It re-inforces the idea that Democrats believe pension obligations are ... flexible, ex negotio, even if there is a "promise" to catch-up later.

On the heels of the ill-advised Social Security "tax holiday", it's bad politics.