Wednesday, March 09, 2005

Union hypocrisy on Social Security?

Larry Kudlow's ending comments on his Tuesday "Kudlow & Co." show were a real eye-opener. Today, he echoed them on his Money Politics blog.
Sometimes it's possible to take politics too far. A healthy battleground of ideas is terrific. Let the best side win. But now we learn that the AFL-CIO and a number of other union pension funds have threatened to withdraw their pension assets from reputable money managers if those managers support President Bush’s personal savings accounts.

This isn't debate. It's dirty pool. It's also hypocritical. Why? Because the union managers have invested their members' assets in the stock and bond market for years...
Read the rest. It's quite an eye-opener, and as Larry points out, as revealing as members of Congress inveighing against private accounts yet loving the Federal Thrift Savings Program.

There's an old joke that to fix Social Security, eliminate pensions and all retirement benefits for Congress, and make them retire like the rest of us. You'll quickly have the most efficient, effective and solvent retirement system possible.

Well, now it sounds like it's time that union executives received the same benefits as the rest of the members.


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