What to do about the Aged Pension?, page-157

Mr Costello has turned out to be an.underground socialist looking after the future welfare of the public sector when he used the sale of Telstra to set up the Futures Fund which still only covers about half the $280 Billion owed to public sector workers but get this... If the Futures Fund ever goes belly up after making any bad investments or another GFC the the Federal govt has guaranteed to pay the shortfall. So basically the general taxpayers and many are KNP supporters who will be underwriting any future losses to protect the lifestyle of the public sector.