SHAME On The American People for letting this happen

SHAME On The American People for letting this happen Congress generous with pensions -- their own, using your tax dollars!!I'm providing this information so that the American Public can be educated to the why's and wherefore's of what our elected officials really think of the American People. Obviously, not very much, or this type of highway robbery could and would not take place. Read on, but...be prepared to be humiliated, angered and frustrated at the internal workings of our government... "of the people, by the people and for the people". I do believe that something has been lost, but form your own conclusion.Social Security debate puts public eye on politicians' guaranteed retirement plansStewart M. Powell, Hearst Newspapers(04-03) 04:00 PST Washington -- While the White House and Congress explore ways to fix Social Security -- whether to cut benefits, raise taxes or impose a higher retirement age -- one segment of the 52 million Americans who get retirement benefits is likely to remain untouched: the lawmakers themselves.There are no serious proposals for Congress to cut its own pension plan or raise the retirement age or years of service required for senators and representatives to qualify for benefits that are beyond the reach of most working Americans.Members of the House and Senate, who earn $162,100 a year, haven't taken a hard look at their own pension program since 1983, when Congress brought lawmakers into the Social Security system for the first time.While congressional payouts are puny compared to some corporate executives -- Franklin Raines, recently ousted as head of the Federal National Mortgage Association, gets a pension of $114,393 a month -- many Americans would eagerly welcome the pensions available on Capitol Hill. Presidents and justices For example, former presidents with as little as four years in office qualify for pensions of $180,100. Retired Supreme Court justices whose age and years of service total 80 receive pensions equal to full pay -- $208,100 for the chief justice and $199,200 for associate justices."Those who can take care of themselves -- do," says Graef Crystal, a longtime corporate compensation expert who writes a column for Bloomberg News. "Congress can write the legislation, and CEOs can have their papier-mache corporate boards OK their retirement deals."Retired senators, representatives and staffers are eligible to receive a traditional pension, Social Security benefits and payments from a 401(k)-style Thrift Savings Plan built up by employer and employee contributions to a tax- deferred investment account.It's impossible to estimate individual Social Security benefits or 401(k) payouts because of the many variables involved for each individual. But pension payments are a different story. Range for lawmakersLawmakers who left Congress last January are receiving pensions ranging from as little as $14,165 a year for six years' service to as much as $114,102 a year for more than 30 years' service.Inflation-adjusted pensions based upon the highest three years of salary are available to lawmakers as early as age 50 with 20 years' service. Lawmakers with less service qualify for full pension benefits starting at age 62. The retirement package includes automatic inflation adjustments and guaranteed access to post-retirement private medical insurance in addition to Medicare protection provided all Americans.Barely 20 percent of the American workforce has pensions comparable to congressional pensions, according to the independent Employee Benefit Research Institute. Almost no one in the private sector has the kind of cost-of-living escalators that keep Capitol Hill pensions moving upward.Lawmakers have "paved a smooth path for their golden years," said John Berthoud, president of the National Taxpayers Union, a 350,000-member conservative advocacy group that campaigns for lower federal spending. "Too bad taxpayers are supplying most of the gold."Retired lawmakers routinely go on to lucrative jobs in private industry that can pay more than $1 million a year, while continuing to receive congressional pensions.For example, defeated South Dakota Sen. Tom Daschle, 57, the former Democratic leader in the Senate, left Congress in January with an estimated pension of $121,233 and joined the Washington office of Atlanta-based Alston

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