Michael Hudson Quotes:
Ocupation: Professor
Life: b. 1939
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.
source: Source: www.counterpunch.org
topic: Mean, Cutting, Pension Plans, Motels
