TPM Reader RM chimes

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TPM Reader RM chimes in: “The decision yesterday by the bankruptcy court permitting United Airlines to walk away from some $10 billion in unfunded pension liabilities — sticking a substantial portion of the tab on the Pension Benefit Guaranty Association and causing employees to lose as much as 50% of their expected retirement benefits — ought to exemplify why it is necessary to retain at least one leg of the retirement “three-legged stool” that is not subject to the risk(s) of market forces and/or corporate uncertainty. Social Security needs to stay as social insurance. The Dems ought to be all over this argument.”

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