What does this DLC letter mean?

[jab105]

Having a problem interpretting what this is saying...
I under stand the overtime pay thing, but what does "new regulations will allow employers to define some military training as equivalent to a four-year degree " mean?

Dear XXX,

President Bush is taking overtime pay away from millions of Americans who rely on it to make ends meet, and veterans will be among the first victims of the new rules.

The new regulations will allow employers to define some military training as equivalent to a four-year degree and declare their veteran employees ineligible for overtime pay.*

That's President Bush's program for those who join the military: drop into a war zone, risk your life for your country, then come home to find you aren't eligible for overtime pay.

Bush's overtime outrage is a devastating attack on families, too.

The reductions in pay and longer hours that will inevitably come with losing overtime will be a strain on the families already struggling with the rising health care costs, lower job security, and other effects of Bush's failed economic policies.

Take Action!

There's still time to fight. President Bush is planning to cut overtime benefits for 8 million Americans this March, but you can help stop him.

[GOPisEvil]

1. Boeing (among others) pushed for this.

This means that specific training you received in the military classifies you as....ack...something, I forget the term, but it makes you ineligible for overtime.

[jab105]

2. But what does it have to do with a four year degree?

confusing wording...just trying to figure it out...

[mdmc]

4. Your military training makes you valuable, like a BA or a MA

Valuable means ineligible for overtime.

[GOPisEvil]

3. Found the link I was looking for!

http://seattletimes.nwsource.com/text/2001846134_overtime30.html

In proposing changes in the rules last spring, the department said in the Federal Register that "the exemption is also available to employees in such professions who have substantially the same knowledge as the degreed employees, but who have attained such knowledge through a combination of work experience, training in the armed forces, attending a technical school, attending a community college or other intellectual instruction."