There are some "conspiracy theorist" (CT) whose names shall go unmentioned who called this out and said it would begin to happen years and years ago. While others may be caught off guard, I remain unsurprised.
The same source touts non-military government employee pensions are next, and then the pensions/401k saving of the rest of the nation will follow. Similar to Cypress and what they tried to do in Iceland before they revolted and through the bankers in jail for trying to pull off that farce. Those are the CT's words who simply claim to read will white papers of those performing the egregious actions, but their warnings are proving accurate time and time again.
A bit of history. In 1967 a CIA document numbered 135960 aggressively applied and weaponized the pejorative term "Conspiracy Theorist" for those who questioned the Warren Commission and their conclusions as it was necessary to save “...the whole reputation of the American government..."
I guess if you believe that Oswald acted alone you are not going to believe this either.
Yup, what this does for retirees under the age of 62 is to diminish their cost of living allowances (COLA) to CPI inflation MINUS 1%. So if inflation for the year is 1.5%, military retirees under the age of 62 will only see a .5% increase in their wages. At age 62, the COLA is re-evaluated and you are returned to "what should have been given" instead of "what has been given". So yes, for the young retirees, it can mean a loss of anywhere around $60,000 or more over the spanning years of when they retired until they reach the age of 62. That $60,000 is less than 1/2 the salary that a freshman congressman makes every year.
At 62, the COLA is adjusted as if this never happened, except the retired service members have lost thousands upon thousands of dollars in retirement pay up to the age of 62.
On a side note, they are also talking about closing the commissary's in the US. For those civilians that do not know what a commissary is, it is our grocery store on base that allows us to save a little bit of change every month instead of shopping at the local grocery stores. One of the retirement benefits that we were told we would have and it appears that it is going away as well.
So out of everything that I was promised for 20 years of faithful service along with other veterans, EVERY SINGLE PROMISE offered by the US Government is NOW ON THE CHOPPING BLOCK.
I noticed that the commissary closure for the Congress is exempted, as well as the reduction in COLA increases. As a matter of fact, they just passed another pay raise for the next incoming congress.
The shorthand employed by Ryan to sell his beloved pension cut envisions healthy, well-adjusted, fattened mercenaries stepping into corporate America to collect millions during the balance of their working years.
How he arrived at this vision boggles the imagination; most retirees struggle to integrate into a new workplace with skills that don’t directly translate while trying to keep pace with competitors roughly half their age. 73% of retirees are noncommissioned officers whose pensions are barely sufficient to keep them above the poverty line. As a rule of thumb, these people are figures of sympathy rather than valid targets of the socialistic “they don’t need it anyway” notion behind Ryan’s sales pitch.
Ryan and Murray obviously weren’t thinking about these issues. They also weren’t thinking about the fact that every veteran who has retired since the year 2000 made a decision upon reaching 15 years of service: either turn down a $30,000 career status bonus and retain an inflation-protected pension upon reaching retirement, or accept the bonus and also accept a 1% annual reduction in cost-of-living adjustment with a one-time “catch-up” at age 62. Most veterans chose inflation protection, which ends up being worth far more in most calculations than the bonus.
In summarily removing inflation protection from all military pensions, Congress breached the contract formed with those who turned down the 15-year bonus. It did this without holding a single committee meeting or public hearing. In a clear signal it wasn’t thinking strategically, Congress did this in a back room not populated by the joint chiefs, who claim to have been surprised by the provision altogether."
Meanwhile these F(&@S serve 6 years wallowing in money/fame and receive a huge pension for the rest of their days. This is absolutely sick. How far we have fallen as a society.
Distressed municipalities and private companies have been recently doing this sort of thing with their retirees also. Guess a promise is only as good as the character of the giver e.g "If you like your current health insurance you will be able to keep it".
This is terrible. I think that veteran's pension/retirement should be the last on the list of things to cut. So many other programs or spending should be cut before we, as a country, start to cut the retirement of the men and woman who served our country. One of my brothers put his 20 in and did numerous combat tours. He is retired and unemployed while finishing his degree. He depends on his retirement.
We need to be outraged that our country is 17 trillion ($17,000,000,000,000) in debt. We, taxpayers, are all going to take a huge bite out of the large **** sandwich that is coming.
think they care? people are things to them look how they spend other peoples money and live. there will always be more money and more people and more everything because they are the ruling class. still of opinion that something needs to happen to remind out elected officials are "public servants" not "public officials". what better than a whole lot of pisses off trained warriors...