Veteran retirement cuts sacrifice American integrity

http://www.businessinsider.com/retirement-cuts-sacrifice-integrity-2014-1

“Exploiting pressure to strike a budget compromise, Paul Ryan and Patty Murray entered into an unholy alliance to reduce veteran pensions – including those already vested under previous covenants – by an average of $84,000 to $120,000.”

“73% of retirees are noncommissioned officers whose pensions are barely sufficient to keep them above the poverty line.”

“…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.”

“If a promise of this magnitude can be rendered so cheap with so little effort, nothing is sacred.”

“It was a calculated breach of the faith for short-term political advantage.”

“The implication for politicians is clear: when you break a promise, you’re tampering with the delicate formula upon which the strength and vitality of the all-volunteer force is based.”

Aerospace Cubicle Engineer (ACE)

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