Saturday, May 14, 2005

WV Dems Support Risky Scheme

Columnist Don Surber of the Charleston Daily Mail is reporting that the West Virginia's Democrat Legislature is planning to invest the pension funds of state employees in stocks and bonds. This is known as "a risky scheme" by the Democrats representing West Virginia in Washington.
With their $5.5 billion pension bond proposal, Democrats in West Virginia are promising voters that Wall Street will average better than 7.5 percent returns annually for the next 30 years. Most of that money will be used to shore up the teacher pension plan.

If Wall Street is good enough for their teachers, then it should be good enough for my kids, who will face 30 percent cuts in their Social Security when they retire.

President Bush ought to visit West Virginia and endorse this pension bond plan--and double-dog-dare Sens. Bob Byrd and [Jay] Rockefeller to denounce the $5.5 billion pension bond as a "risky scheme."
Hat Tip to Best of the Web.

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