How Ben Bernanke Is Destroying Your Retirement
By MARTIN HUTCHINSON
May 23, 2013
Uncle Sam has an unfunded pension liability of $800 billion.
Corporate pension funds have an unfunded liability around $400 billion.
State and local pension funds have an unfunded liability in the tony neighborhood of $3 trillion.
That’s over $4 TRILLION in UNFUNDED pension funds.
And if you’re not lucky enough to be in a “defined benefit” pension plan (which fewer and fewer people are these days) there’s undoubtedly an “unfunded liability” in your own savings – in other words, you haven’t saved enough to retire.
It’s a huge problem and it’s getting worse. And there’s one individual to blame for all that $4.2-plus trillion of money we need to find – Ben Bernanke.
The Killer of Nest Eggs
Bernankeism exerts a double whammy on pension funds, because of the accounting.