As the self-destructive spiral masterminded by our elected representatives continues, now the Pentagon, in a masterful display of military intelligence, wants to move the military pension system to a defined-contribution plan.
Like certain other professions, such as teaching, one of the major incentives has always been a good, secure defined-benefit pension system. Now it is proposed to sweep the military pension system into the great dustbin of history to save $250 billion over 20 years. And in 20 years, what will our military look like in consequence? I suspect that the only thing that is holding up enlistment rates at this point is the recession that our leadership doesn't even like to mention.....and it may be that only if our economic malaise continues will sufficient numbers of high-quality recruits enter our Armed Forces.
And- are we to wait 20 years to see what the impact of all those savings have been on our national defense? I'd rather not.
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