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Joined 2 years ago
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Cake day: June 15th, 2023

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  • Need new rules in House and Senate, too. The majority party gets majority in all the committees, gets to pick all the committee chairs, etc. All of the current non-D/non-R members ‘caucus’ with one of the major parties, making them de facto members of that party. A third party with enough representation to block the other two from gaining majority would almost certainly end up in an alliance with one, leaving us back with functional two-party politics.











  • The main difference is who bears the risk. For pensions, it’s the employer, who has to make extra payments if the pension fund falls behind it projected obligations, or surrender its management to PBGC. That open-ended risk is why most companies have abandoned pensions. For SS, it’s the government (although they do have the power to change their legal obligation). For annuities, it’s the recipient, who will just get less money if the annuity’s investments underperform during the accumulation phase.