Pensions in the USA

Verizon announced it would stop contributing to pension plans that will affect 50,000 of its managers. Seems the new corporate buzzword for getting rid of those pesky benefits for employees is called "restructuring". For 50,000 people, their retirement plans have been "restructured" into non-existence.

While I certainly understand that workers need to plan for their own retirement, if wages remain basically stagnant, the question of where the additional funds will come from is unanswered. If the US is a consumer nation whose economy is based on spending, then, conversely, saving for retirement will diminish spending and the economy will slow. The pace at which companies are "restructuring" their pension plans has accelerated in the last 5 years, coinciding with the Bushies administration. Bush can make all the speeches about the need for companies to honor their pension promises but the real agenda of the administration is in line with the Conservatives stated policy of eliminating governmental regulations for retirement programs.

Apparently Verizon was not listening to our president since their announcement came just 1 day after Bush's speech. Coming on the heels of his speech, I'll bet the Administration is feverishly working the spin on the issue. Good luck on that one!

Looking to 2006

It is very likely that we will see Immigration as the BIG issue of the election in 2006. It is one of those issues that can divide, and does divide, our nation. We can say they are illegal aliens, undocumented immigrants or any of a multitude of other terms either more or less pejorative, but these labels have been with us longer than I can remember. Yet what are the real roots of this issue? Is it a fear that the Norte Americanos will be left out of the future? Black, White, Asian or whatever group will be smothered by an avalanche of Latinos?

Somehow I don't think that border security is the primary focus of the people calling for tighter borders. If that were true we would be saying that we need to secure our northern border with Canada. Something else is at work here. I admit to wanting a non-porous border, a controllable border, a border that is safe of drug smugglers, trafficers of human cargo, criminals and potential threats. On both sides of the issue are well intentioned people who want to be heard. There are so many constituencies involved that it defies the ability to list them all here.

We, as Americans, should feel honored that others are willing to give up all they know in order to come to this country. The truth is we probably don't really feel that way, mostly out of fear, I suspect.