Pension Crisis in US listen05/22/08 Mitch E. Perry
WMNF Drive-Time News Thursday | Listen to this entire show:
In his new book, While America Aged, best selling journalist Roger Lowenstein explores how and why corporations and governments made ruinous pension and health care promises to American workers. Those promises are now coming due, and they threaten to hit the U.S. like a tsunami.
WMNF spoke with Lowenstein, who also writes for the NY Times Magazine, earlier this week. We began by asking him about The Pension Benefit Guaranty Corporation, or PBCG, a federal agency created to defend the integrity of companiesâ€™ pension plans by pledging to make good on any that should go bust. Unfortunately, the PBGC is finding itself severely stressed.
Weâ€™ll air the 2nd part of this interview next week.