Federal Law Altered Again To Reduce Pension Payouts

Here's another gem buried in the Cromnibus Bill:

http://www.globalresearch.ca/the-mass-looting-of-pension-plans-begins-as-federal-law-altered-to-reduce-pension-payouts/5420343

Nearly all reports about pensions (including this one) omit the fact that Congress long ago altered the law so that pensions do not have to be fully funded but merely have to cover their day-to-day expenditures. This allowed the Michael Milken-era leveraged buyout junkies to take over companies and strip them of their excess pension assets (the basis for the plot of the movie Wall Street).

There are no accidents here, or any incompetence. Everyone involved, including Congress, knows exactly what they're doing. It's the members of the working class who are being robbed that apparently never know what's going on until it's too late.