When it comes to the presidential candidates’ pensions, size matters in more ways than one.
Retirement packages sparked one of a series of confrontations during the Tuesday debatebetween President Obama and Republican challenger Mitt Romney.
The exchange took place during a discussion of China policy, with the president accusing the former Massachusetts governor of hypocrisy when it came to tough talk against the nation that boasts the world’s second-largest economy.
Romney conceded that a blind trust that manages his money does have investments in China, but countered that he wasn’t alone.
“Mr. President, have you looked at your pension? Have you looked at your pension? Mr. President, have you looked at your pension?” Romney challenged.
In one of the debate’s lighter moments, Obama countered, “I don’t look at my pension. It’s not as big as yours so it doesn’t take as long. I don’t check it that often.”
“Let me give you some advice: Look at your pension. You also have investments in Chinese companies, you also have investments outside the United States,” he said.
On that score, Romney is likely correct.
Many public pension funds have a diversified foreign investment portfolio that includes China. For instance, the California Public Employees Retirement System, or CalPERS, recently announced a $530 million investment in two real estate funds that
The remarks sparked some audience laughter — and yet another Romney rebuke.
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