Bankruptcy Law Doesn't Protect Families

Thanks to the Bush administration and with the help of Congressman Frank LoBiondo, under the new bankruptcy law big American corporations (United Airlines, Delphi and many others) filing under Chapter 11 are allowed to renegotiate their union contracts and even throw them out. Worse, these corporations are allowed to dump their pension obligations. There is no safety net for the average American family. By the way, the Pension Benefit Guaranty Corp. mandated by Congress in 1974 is running its own multibillion-dollar deficit and counting. One thing is obvious; Mr. LoBiondo and the Bush administration don't have the interest of American families in their heart. They can talk family values all they want, but their actions speak volumes. The administration and Mr. LoBiondo want to do away with defined pensions, as we know them. They want American families to join 401(k) plans while making the federal minimum wage of $5.15 per hour.

HIPOLITO LAGARES

Vineland

Letter published in The Daily Journal, April 28, 2006