Promises, Promises

Yeah, check's in the mail, we'll still love you tomorrow and the pension will be there for your retirement. As far as we're concerned, bonddad is one of the best commentators around (06.21.06):

"The bottom line is simple. It appears corporate America has decided to underfund their pensions with the hopes of an eventual bailout by the Federal government. Funny, I bet most of those captains of industry are die-hard Republicans who also argue for the days of personal responsibility." Pension Crisis: Pensions Underfunded by $450 Billion

UPDATE: bonddad has more.