Even though Senator Ted Stevens (R-AK) has been convicted of a felony, he will still receive his taxpayer-funded pension of $122,000 per year. We wrote about the huge loopholes in the "no pensions for felons" law that was passed last year, but this issue illustrates it pretty darned clearly.

Stevens' conviction won't revoke his pension for two reason...

1. The crimes he was convicted of happened before the bill's enactment.
2. The crimes he was convicted of are NOT among the 10 specific felonies listed in the legislation.

News of his conviction will certainly shake up electoral politics, but Congress ought to take this example as clear evidence that they need to strengthen prohibitions on felons receiving pensions funded by you and me.