He paid for the pensions of the people who were retired while he was
working. Now, other people are paying for his retirement, i.e., the
people who are working that he wishes lost their jobs. But the ratio of
retirees to payers is a lot higher now than it was when he started
working. It doesn't take living very long past retirement before you
start receiving more than you put in.
Steve
With or without interest? In dollar for dollar contributions, I expect
you're not wrong. The pension, however, is supposed to have earned some
profit for the payee, no?
Unless, of course, you put your pension money in Enron 401K plan.
Hey Dirt Ball:
Off Topic, this is a BOATING forum!!!!!!!!!!!
will anyone have a job
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