Wednesday, April 21, 2004

ERISA, we don't need no stinkin ERISA!

lambert at corrente drew my attention to this article:
The House voted unanimously Wednesday to let financially pinched National Guard and Reserve troops tap into retirement savings without penalty, although some Democrats called the effort to support the troops "pathetic" and "rather pitiful."

i don't know which is worse, the fact that the house unanimously approved raiding national guard and reserve members' pension fund (something that could earn those members of congress prison sentences if they were the board of directors of a private company), or the fact that the news article referred to the measure as "the effort to support the troops."

UPDATE: overstated again. as charles pointed out in the comments, the bill would allow guard and reserve members to raid their own pension accounts, so it's not accurate to say that the house is doing the raiding or that they would face jailtime if they were doing this in a private company. doh!