"The only way people can repay the debt is by cutting their living standards very drastically. It means agreeing to shift their pension plans from defined benefit plans - when you know what you're going to get - into just "defined contribution plans," where you put money in, like into a roach motel, and you don't know what's coming out."

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Source : Source: www.counterpunch.org

Michael Hudson

#Mean Quotes #Cutting Quotes #Pension Plans Quotes