Congress approves plan to allow pension cuts | WHAT REALLY HAPPENED

Congress approves plan to allow pension cuts

More than a million retired and current truck drivers, construction workers and other union workers could see their pension benefits cut now that Congress passed a proposal aimed at shoring up some of the nation's biggest pensions.

Tacked on as an amendment to the government's $1.1 trillion spending bill, the proposal was approved by the Senate late Saturday night.

While those sponsoring the pension proposal say it is "the only available option" to save failing multiemployer pension plans, other groups -- like the AARP and the Pension Rights Center -- are crying foul.

Webmaster's Commentary: 

There is another option to cutting pensions. Take those Wall Street bankers whose 2008 mortgage-backed securities fraud wrecked the pension funds in the first place and make them cover the shortfall to protect the pensioners!

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