Millionaire Darrell Issa, who is eligible for a lucrative federal pension when he leaves office, told the Deficit Super Committee yesterday that it should completely eliminate federal pensions for new hires, while drastically increasing the employee contributions for existing FERS and CSRS employees. Issa would base pensions for retiring CSRS and FERS employees on the high five years earnings rather than the current three, and eliminate the social security supplement for most FERS retirees.
Darrell also told the committee that it should not involve itself in postal reform, claiming that he was trying to build a “consensus” reform measure. (The claim is somewhat ironic, given that a majority in the House seemed to have arrived at just such a consensus in the Lynch bill that Darrell refuses to allow a vote on.)
Darrell’s letter claims that the suggestion by Oversight Democrats that the USPS be placed “on budget” “makes it possible to falsely claim that postal reform proposals saves [sic] taxpayers billions of dollars by counting reductions in postal service expenses… as savings to the taxpayer.”
Darrell neglects to mention that having the USPS off budget while its pension funds are on budget allows him to falsely claim that giving the USPS access to the over $50 billion in postal profits now sitting in the Treasury is a “taxpayer bailout”.
Interestingly, while Darrell claims to be building a consensus, none of the other members of the committee, Republican or Democrat, signed his letter.