Saturday, December 11, 2010

If Unions had their way, we'd be like Bolivia

I came across this little gem this morning in USA Today.

Bolivia passed a law Friday lowering the retirement age to 58.

Critics say the law, which also nationalizes the pension system and generously extends coverage to the poor, is overly ambitious and unsustainable.

It seems the President there is in the tank with the Bolivian Workers Federation.

"We are fulfilling a promise with the Bolivian people. We are creating a pension system that includes everyone," Morales he said at the signing ceremony.

The new law will also allow Bolivia's 70,000 miners to retire two years earlier -- or as soon as age 51 if they have worked in life-sapping conditions deep underground. Mothers with more than three children will also get special treatment: the right to retire at age 55.

I can see the American unions salivating over this.

I can hear Obama now in 3 years, if we don't retire his A..! "The Bolivian people need our help......."

Complete story is HERE.


Anonymous said...

Wow! What are these people thinking? Where do they think the money will come from to pay for this?


phil said...

The greed of Unions are responsible for most of our economic problems.

kelly said...

I agree Phil. They have changed for the worse over the years.

Gone from looking out for the fair treatment of their workers, to wanting more benefits and pay than those non-union in the private sector.

Anonymous said...

This is unbelievable! I had seen a spot about the Argentinian Government paying for plastic surgery for anyone who wanted it. I couldn't believe it, either. Guess what? Not too much later they went bankrupt! It was horrible. So very, very, very tragic for the poorest of their people. This seems to be another piece like it. Tired of austerity, we'll promise our way into popularity. Something like our current U.S. administration.

Although this book is out of date, I found COMMANDING HEIGHTS The Battle For the World Economy, to be absolutely fascinating. There is also a DVD of the PBS presentation of it. I will never forget their interview with former Prime Minister Margaret Thatcher. "Of course they didn't need to be efficient," she said of nationalized business, "they had access to the Government purse!" Good stuff!