Many have surmised it was only a matter of time till the government would come for pension and retirement accounts.
According to this article, it is already happening by stealth.
The looting has been done quietly through means such as a manufactured crises, underpayment or non-payment by cities and States and the deviation of funds to risky alternative investments.
Conservative activists are manufacturing the perception of a public pension crisis in order to both slash modest retiree benefits and preserve expensive corporate subsidies and tax breaks. States and cities have for years been failing to fully fund the annual pension obligations. They have used funds that were supposed to go to pensions to instead finance expensive tax cuts and corporate subsidies.
That has helped create a real but manageable pension shortfall. Yet, instead of citing such a shortfall as reason to end expensive tax cuts and subsidies, conservative activists and lawmakers are citing it as a reason to slash retiree benefits.
