Tuesday, January 04, 2011

"European Nations begin Seizing Private Pensions"

The American Left always seems to be infatuated with Europe. So how is Europe dealing with their retirement crisis? A headline in the Christian Science Monitor reads, "European Nations begin seizing private pensions."
The most striking example is Hungary, where last month the government made the citizens an offer they could not refuse. They could either remit their individual retirement savings to the state, or lose the right to the basic state pension (but still have an obligation to pay contributions for it).
Think it can't happen here? I wouldn't put anything past our "hope and change" Left. Remember, they often hold Europe up as an ideal model.

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