Thursday, November 8, 2012

Hogs at the Trough and Empty Piggy Banks

From the British newspaper--The Telegraph:

A poor lookout - Telegraph: "In the long term, the only solution to this crisis is to increase greatly the amounts being saved. This is the logic behind the Government’s new auto-enrolment system, which pushes workers into a pension scheme unless they actively choose to withdraw. Of course, it may turn out that the new rules are too conservative, and that a return to prosperity sees Britons’ eventual pension values far exceed the new projections. But it is surely better to be pleasantly surprised than to realise, upon retirement, that the piggy bank is empty."

Here in the U.S., prudence has been thrown out the window.  Thanks to all the Hogs at the Trough, almost everyone's piggy bank will be empty in just a few years!


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