Why Democrats are Pushing the $165 Billion Union Pension Bailout
by LaborUnionReportSomewhere lurking in the hot, putrid halls of Congress this summer is a union bailout bill of epic proportions and long-term ramifications. Whether or not Democrats can ultimately push it (or something like it) into passage is yet to be determined. However, with rumors that Sen. Dick Durbin (D-IL) signed on as a co-sponsor on Thursday, it would appear that the union bailout is quietly creeping along. If it passes, though, its ramifications surpass the mere $165 billion-plus price tag, as it will influence the political landscape for decades to come. In sum, Democrats need the bailout desperately and Republicans should shun it like the plague.
Likely to surpass the touted $165 billion it is estimated to cost, Create Jobs and Save Benefits Act (S. 3157) was introduced on March 23rd by Sen. Bob Casey (D-PA) and is designed to bailout unions’ underfunded pension funds by transferring the liability of those funds onto the backs of the taxpayers.
Under these bills, the Pension Benefit Guaranty Corporation (PBGC) would, at the request of the plans, have the authority to take over the pension obligations of employers who have withdrawn from the plans, and pay the benefits out of taxpayer dollars, says Furchtgott-Roth:
- Once the PBGC shoulders that obligation, it would keep making payments until the last retiree or designated survivor dies.
- Since many multiemployer plans are in financial difficulty, this legislation, if enacted, could dramatically increase the federal deficit, putting even more pressure on the American taxpayer and the economy.
- Depending on events, it might add billions to government spending — current underfunding levels are estimated at $165 billion-bumping up future deficits.
According to a June 24th article published in the Bureau of National Affairs Construction Labor Report (subscription required):
If enacted into law, the bill would convert a private funding shortfall for collectively bargained multi-employer plans into a public obligation, said Brett McMahon, vice president of Miller and Long Concrete Construction and an ABC member.
The legislation would transfer a portion of multiemployer pension funding obligations to a new insurance program that would be operated by the PBGC and paid for with taxpayer dollars instead of employer-paid premiums, F. Vincent Vernuccio, a spokesman for the trade group’s advocacy organization, the Competitive Enterprise Institute, said during the call.
At the heart of the union pension problem are companies that, in many cases, agreed to put retirement money for union workers into “multi-employer plans” but have since gone out of business. As the unionized workers in multi-employer plans are still entitled to a pension, the remaining employers are left funding the pensions of workers who, in many cases, they never employed.
Over the past few decades, as more and more unionized companies have gone out of business, this ponzi-scheme has only grown, leaving many union pensions severely underfunded—an estimated $165 billion underfunded. Now, with so many plans in critical status, many companies that remain in union multi-employer plans are facing an insurmountable burden that may eventually drive many of them out of business.
What’s Really Behind the Democrats’ Push for the Union Pension Bailout
Liberal talk-show host Ed Schultz proclaimed last weekend that America is in an ideological fight for the country. The problem for many on the Right is that they are only beginning to understand that the Left’s vision for America is a long-range vision—and it is a fight where the Left is playing for keeps.
Democrats need unions to be their foot soldiers on the march to a socialized progressive America which is why the entire Left establishment has been pushing for the horrifically-misnamed Employee Free Choice Act (EFCA) for the better part of a decade.
In fact, at 2009’s Netroots Nation (the left-wing blog event for socialist progressive bloggers), one of the panel discussions held was The Secret Plan to Defeat the Right Forever and how EFCA was key to the plan’s success.
Modernizing the nation’s labor law is critical to expanding union membership—which in turn, will ensure conservatives become a permanent minority, as newly-empowered workers actively engage in political action and demand a new way of doing the nation’s business, like creating an economy that rewards Main Street and not just Wall Street. The freedom to form unions and bargain is critical to the progressive movement—when workers have the tools they need to build a better life, they have the power to improve their communities and the solidarity to make progressive political change throughout the nation.
In other words, the Left has been relying on EFCA in order to have one-party rule in America permanently. The problem is, EFCA has been temporarily stalled and now the train-wreck of union pensions is barreling down on the Democrats. In order to save the Democratic Party, they must save the unions (or more specifically, the unionized companies) from failing.
While Democrats will tout the union pension bailout bill as another way to “create or save jobs,” it is misleading. The union pension bailout bill will save Democrat politicians’ jobs and it may also temporarily save some union jobs, but at what expense?
There are no guarantees that bailing out the union pensions at the expense of taxpayers will save the unionized companies. Moreover, if the union companies are allowed to fail, the markets and industries that these companies operate in will likely absorb the work, creating jobs in other (albeit non-union) companies.
On the other hand, even though Democrats know that another union bailout will likely make them even bigger pariahs with the American people, the very survival of their party rests on their ability on passing this poisonous piece of legislation. If they fail, the ramifications for the Democrats are disastrous.
Failing to bailout the union pensions would likely cause the failure of a fairly high number of unionized employers. If unionized employers fail, unions will lose members. Without union members, unions would have no union dues with which they can fund Democrats’ political campaigns and would not be able to mobilize effective Get Out the Vote (GOTV) efforts.
There are a couple of reasons Democrats and their union handlers are pushing this poisonous bill now: Union bosses and Democrats know there is likely going to be a major upheaval in November. As a result, what they have not been able to accomplish in the last 18 months in Washington will presumably be stalled for another few years (at least until 2013). They cannot survive that long. The union pension bailout bill is the lifeline to ensure their survival until they can regain dominance again.
In the coming months, watch for more push from the Democrats to bailout the union pension plans. If it doesn’t happen before the mid-term elections, it could very well happen immediately after. However, for any Republicans considering supporting this legislation, they do so at their own peril, for the Democrats are only pushing this to save their party by making sure they have foot soldiers in future elections.
__________________
“I bring reason to your ears, and, in language as plain as ABC, hold up truth to your eyes.” Thomas Paine, December 23, 1776
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122 Comments
Gotta keep dem servants indentured ya know.
It shouldn't be up to the taxpayers to bail out Unions….They're so "smart", let them figure
out a way to give their members what they paid in for!!!
That’s like the Chinese government, sending a bill for the bullet that was used to execute a family member. I always thought that it was a felony to deplete a pension fund? I guess that only applies to the other people.
One word:
VOTES!
They are paying off their most favorite voting block.
I want my money back!
With a helluva lot of interest…
This is scary but at the same time we need to keep fighting. Makes me wonder if there was a bailout for the Unions in the first huge bill that got passed that no one bothered to read. In 3 months, hopefully we get to kick their butts goodbye.
Union members voted in their leaders, so the only ones to blame for the irresponsible spending of their pensions are themselves. Who's going to make up the losses in MY 401-K? Hopw about my son's 529 college plan? Oh, that's right. NO ONE!!!!! This bill is beyond wrong, it's criminal.
These people have no shame… But this is a great example of what is wrong with the Govt! And unions no less… It will be interesting to hear them try to explain how this is unlike what happened on Wall st.
But the reality is, we the people are already funding this tragedy… The products they produce are bought by us.
Tell em to get it from Jimmy Hoffa!
If unions were actually good for America and not destructive, their pensions would not be in trouble.
IE: the only reason why their pensions are going under is because the union "negotiated" unrealistic benefits that were not sustainable.
Can we pass a bill to pay all my employees to work for me so I don't have to and pay there medical so I don't have to and there pension so I don't have to, oh ya, also buy there votes so we can pass a bill that will take our freedom of speech away and as many freedoms as we can possibly give away . So finally we can pass a bill to take our freedom of thought away, since we the people are no longer able to take care of ourselves, we obviously can not think for ourselves. So we should pass a bill so we do not have to do anything for ourselves or take any responsibility for our actions like a PUPPET! SOUND FAMILIAR ( notice how familiar ends in liar)
Let's see…. It's OK to throw $165 BILLION PLUS dollars to the Unions, who have mismanaged their money, but it's OK NOT to support those Patriots who helped in the rescue and recovery at Ground Zero, with their ongoing health crisis. These folks have bent priorities…
I can't even read it all. Anyone who votes for this should be removed from office. Whoever wrote this abortion should be jailed for committing fraud against the tax payer (Not the Gov. they are frauds)! This is the kind of madness that the Tea Party is so pissed off about.
Reelect no encumbents in Nov. Voter imposed term limits for every office.
So all of us in the private non-union sector that had to watch our 401k's, IRA's and investments go in the toilet would now also have the pleasure of paying for union members pensions? That's insane, and outright theft.
The biggest problem facing the unionized companies that haven't gone under yet is their own unions. Drop them and move to a right to work state. Let the unions implode from within. I don't care what you were "guaranteed" by your union, most of us had to deal with it when our 401k's tanked, we're not going to pay for theirs on top of it.
Obama has to keep (his private army) happy. That way they vote for him and the Democratic Socialists ONLY, Obama will give them PUBLIC MONEY so they can vote for DEMOCRAT SOCIALISTS ONLY!!! Obama has to have a standing army of some kind and with Acorn it was too obvious they were criminals. The Unions then become Obama's brown shirts and muscle to intimidate people. He already has the Teachers Union teaching children to sing about Obama. Could it be any clearer what this phoney President is up to?
On top of all of our 401k's, IRA's and investments tanking, now we're supposed to cover their pensions. All because the unions set up an impossible plan to pay for them that should never have been allowed in the first place.
The union members should be suing their unions, and the government should stay the hell out of it.
That's it exactly Stan! Votes votes and more votes! The left is terrified they are going to lose this November.
you really could not make this nonsense up,Casey and Durbin should be tarred and feathered along with any other traitor that votes for this abomination
They would not have such a pension fund shortfall if they weren't spending such HUGE sums buying House members and influencing elections…..
It's theft. You're exactly right: no one is going to bail out our 401k's. The only recourse union members should have is suing their own unions for not providing what they promised and have been collecting dues for.
If this passes we should be able to sue the U.S. government for using our money to pay for a select group of peoples retirements while ours have been tanking. Completely unconstitutional.
you gotta hand it to these union bosses. they'll do anything to keep their drones (i mean union members) paying those hefty union dues.
first, they invested $40 million to buy off the democratic party, which turned over the ownership of GM to them.
then, they tried enacting the EFCA law, which would end-run those pesky secret ballots for union-authorization elections.
now, they pressure their bought-and-paid-for democratic party to pass a law that would have every taxpayer in the country pick up the tab so every union member can retire early with a gold-plated pension so generous it would bankrupt the companies they work for.
almost makes me want to join a union myself just to survive this administration's blatant political favoritism.
You can't get anymore corrupt than this administration. Unions are Obama's Jackboots. That civilian force he's always wanted.
This is more of the socialist agenda. These unions spend millions of dollars campaigning for Democrats. Now they want the taxpayer to pony up for their short funds. Unions go to hell!!
So I am paying for the unions to bribe – oops, I mean "donate to" and "support" certain politicians – because they are running out of cash. What a plan! Next I'll take an ad out in the paper telling everyone when I'll be going on vacation and give the code to my security system. Oh, and if you can't wait for me to go, the key is under the third potted plant from the left on the porch.
I heard that the Union was paying for most of Rangle's defense so far.
Union wages are artificially inflated in many cases. Let them make up the slack in extra dues.
So now much like the homosexual agenda which is pushed on the back of less than 10% of the population, we now have the Union agenda being pushed even though union members make up less than 15% of the total workforce.
This would be outright robbery.
165 billion is chump change when you look at how badly the 57, er 50 state pension programs are underfunded. That is the 5000 lb. elephant in the room that every one seems to ignore.
No. Absolutely not.
I smell America spirit in the air. I'm tired of the gov taking half my paycheck to support the other half that don't work! We have got to take over in November!
It shouldn't be up to the taxpayers to bail out anyone.
It is criminal how the government steals money to buy votes. Stealing taxpayer dollars to fund pensions of union thugs who mismanaged their own fund is down right criminal and should not be tolerated.
I can foresee tax revolts in the near future as this government continues to steal money to pay for bail outs to political friends. It cannot be allowed to happen. Let the unions and states suffer just like the rest of us who have been unemployed surviving on what's left of decimated 401Ks.
It's only a felony if the money wasn't given to help elect Democrats.
"That's insane, and outright theft."
What are taxes but legalized theft? If I steal the property of my neighbor I will go to jail.
If I elect a politician to tax this neighbor and provide benefits to me with that money, how is this different?
Well I think we have a good chance of blocking and stopping their "votes"
Who's going to bail out Social Security? All the money I paid into that is gone. Underfunded my ass. That cash was spent by the same sleazy politicians who are trying to saddle us with this debt as well.
They vote for this and it's time to get out the tar and feathers. I'm trying to be a good responsible citizen but if things don't change after November you gotta start to wonder when the American people start shooting.
This is one more nail in the Democrat coffin…If the public actually heard about it…That's the problem..
A structural problem cannot be fixed in the long run with a "mega-band-aid" temporary fix..
This is about buying votes for a political party at the expense of the Country…
If you want that really big government y'all love so much,
you must have a really vibrant private sector to pay for it…
For all Obama does to help the private sector, he may as well just whistle Dixie….
It's the same type of theft as other uses for tax money, but we'll never get them to stop taxing altogether, so we have to be realistic. It should never be illegal to pick favorites. They have always distributed tax dollars based on economic and poverty levels, but bailing out one set of peoples retirements at the cost of another set of people is…more criminal than what they already do? This is one thing that should be able to be stopped by taking it to courts.
Let me run this by you folks. This is more income redistribution. I trade my skill and pieces of my life to the company for which I work, in return I get money. So the money I earn actually equates to moments of my life, moments that I'll never get back. If you take this money from me to give to someone who hasn't earned it aren't you saying that their life is more important than mine? You're stealing pieces of my life to give to someone else without my consent. Isn't that a form of slavery? Thus would income redistribution be considered modern day slavery?
Touche'
No. Unions are over paid and lack of savings accounts on their parts is not our proble. We don't bail out people without pensions.
The question is what is it acceptable for our society to tax us to support?
National defense, pretty easy call correct?
Necessary public infrastructure, such as roads and the like – things that clearly are inefficiently addressed by the private sector.
But where does it end?
I suggest that the Constitution is where we look to for these limits. Is it the role of the federal government to protect the Unions? I think not.
I think you said it yourself "They have always distributed tax dollars based on economic and poverty levels".
Distributed. Re-distributed you mean. “From each, according to his ability, to each according to his need.”
Yes, and this is the fundamental problem, this is not authorized in the Constitution.
Totally disgusting! The GOP should run from this legislation! Keep an eye on the RINO's!
The U.S. has been partly socialist for more than half a century. Redistribution is definitely what I was implying. The Constitution and Bill of Rights were put in place as protections for the people FROM government, but people have long since forgotten that.
These morons in washington D.C. are spending our children's future away. They should be put in jail.
This is sickening. These pension plans were an agreement between employers and employees. The American taxpayers, as a whole, should not be in the business of bailing out bad decisions made by these two groups. If a local or state government has underfunded pensions that it us up to that government and its tax base to come up with the money. It shouldn't come from federal tax revenues.
I know several union members. Proud bastards at how they make big companies bend to their will. How they make young apprentices "pay" their dues through humiliation and disrespect. They brag about their big wages and benefits. How they take their required breaks, that last longer than scheduled. How it takes 7 men to do the job that 2 could. How entire cities and civilations would collapse without them and their socialist way of life. Now their broke. Without the tax payer most will live on food stamps and assisstance. Still proud, but broke. When asked about their union bosses p1ssin away their pension funds they can blame every Republican president since Nixon for busting the union. Reagan was suppose to be the worst, HA! Time will tell if these blowhards will starve or just have to sell their toys to live, but knowing our government "we" have to support the unworthy.
Once again we have organization/businesses looking to the govt to bail them out from their bad decisions. I guess learning from ones mistakes is no longer acceptable because the govt does not want any one to be able to fail.
How long would it really have taken to invent the light bulb if the govt was in charge?
Exactly. It's a contract between two parties. The taxpayer isn't liable for equalizing the two parties. Also, there's nothing in the Constitution that allows the federal government to intercede with tax dollars. Last I checked the Constitution was a blueprint for what the federal government could do and prohibited any other actions by the federal government.
if Unions were not so corrupt and funded their pension plans instead of donating millions and millions to democrats perhaps they wold not be in this position.
if they bail out unions there will be an insurrection.
no one bailed me out or replaced all the retirement money I do not have any more.
Progressivism = Totalitariansim
Well unfortunately, with the GM takeover, we learned that contract law holds no meaning for this administration, ESPECIALLY when it comes to "protecting" unions.
The reasons these companies went broke is because the union demands bankrupted them. The unions have bankrupted most states that have unions controlling their governments; they have run industry out of this country and now Sterns, etal are spreading their wares in those countries too……. Unions are nothing but a cancer on free enterprise.
"Over the past few decades, as more and more unionized companies have gone out of business, this ponzi-scheme has only grown"
Think about this quote from the article.
It says a couple of things.
1) Union businesses have a really hard time staying afloat, without Fed assistance.
2) The long term trend means that even more of these loser companies will need their pensions bailed out by us.
The DemoFascists are the most corrupt POS I have ever seen in my lifetime.
Just another way O'bummer has devised to 'redistribute' your wealth….that's the Democratic way…….and if they break all the folks who worked all their lives to save and take care of their own retirement by redistributing your wealth to those who got sweetheart deals that bankrupted the company they hijacked, its just the 'right' thing to do……at least that's the plan to keep the folks voting for the progressive party of socialists aka DNC have in mind
When a parasite kills its host, it must find another host or die. Unions are now parasitizing the nation.
Stiff 'em.
Unions – too big to fail.
AIG – too big to fail.
FannieMae – too big to fail.
FreddieMac – too big to fail.
SalleMae – too big to fail.
General Motors – too big to fail.
What do all these "too big to fail" institutions have in common? All are big Democratic donors and all are now rescued with taxpayer dollars and all will use taxpayer dollars to route contributions back to more Democratic politicians who will route more taxpayer dollars back to them who will…
You get my point. It's not a conspiracy. It just looks like one, acts like one and has been one. Other than that, there is nothing organized or detrimental to the public interest going on here; just more looting and stealing by liberal-progressives.
It's not only the donations but look at the salaries of the union bosses. They pull down as much as any CEO. Of course they get paid wheather the companies make a profit or not. If a union employee loses their job the bosses still get paid. A plant closes because of union demands, Cryovac in Cedar Rapids Iowa, bosses still get paid. Millions in compensation and the members applaud the "good" work being done for them. Fools.
I'm just spit-balling an idea here, But what if the Unions spent all that money they use on buses to AZ to protest a law, Or all the money they spend on rigging elections and supporting candidates like Dodd and Frank, Obama and other progressives….. I mean if instead of spending union dues on crap like that, they put it in the pension funds. I know I ain't the brightest bulb in the box, but it seems to me if they have all this money for campaigns and such…they can afford their own pension funds with out my money. BTW can anyone show me where in the constitution it says the Government has the right to force me to join a private enterprise in order to work? If you don't live in a right to work state, that is exactly what the feds say you must do. Join or go hungry.
Liberals know they are guilty of this and that's why they will ignore what you just said. But the rest of us better vote these rats out in Nov, November may be our only chance to stop Obama and the Socialist/Marxists from taking over everything. Soon there will be only one party. The NATIONAL SOCIALIST DEMOCRATIC PARTY….oh wait…..that's is what Hitler did.
We know why they're pushing for taxpayer union bail outs already…. here's some more bail outs coming down the pike:
-State budget bail outs
-Pension bail outs
-FMAC, FMA bail outs
-bond bubble bail outs
Who is going to bail out the bailer outer? Uncle Sam? Greece is already tied up at the moment.
as an average worker with no retirement plan how dare they expect me to pay for the scumbag unions.
Bingo. All government intervention is, by definition, a corruption of the private-sector market for the benefit of one group of stakeholders (in this case unions and the political class) at the cost and risk of the other stakeholders.
Income redistribution? Why not call it what it is – it's stealing money from people who actually earn it for the purposes of allowing the political class to live off of our output at our exclusive risk and expense.
Shut up or they will be on your lawn. On the other hand, I think Obama and the liberal-progressive movement may finally be doing what we have been unable to do – totally destroying the idea that unions provide any benefits to workers in a modern society (other than the surety of unemployment).
Socialists will not walk away and these know what is going to happen. There isn't going to be an election. This is the only chance they will have for generations to destroy this democracy and end capitalism in America. They are not walking away from that.
I'm with you that it's stealing money but my point is that we trade our lives for this money. Therefore they're stealing our lives. I willingly sacrifice my life for my family. By redistributing (stealing) our income they're stealing our lives. Willing sacrifice is noble, forced sacrifice is SLAVERY.
Bring it. I have sprinklers. And dogs if that doesn't work.
Gotta keep Dem servants in dentures ya know.
Watch closely folks. This piece of trash will probably rear its ugly head in congress after the Nov elections where those to lose their seats have nothing to fear by passing the garbage. Best thing to do now is contact your congressmen and get them to kill it in committee.
Can I bring my dogs too? They love RED meat.
Unions are the problem. Once upon a time there was a legitimate reason for unions, but that time is long since past. Unions only represent their leadership and THEIR desire for unbridled power and influence.
Public Employee unions are an afront to the very concept of "conflict of interest".
For a union to have a legitimate place ther needs to be an adversarial relationship between the union and the employer. This is not the case with public employees. When the unions are allowed to contribute to political campaigns they in effect OWN the victor. Any negotiation is polluted and corrupt. Politicians will agree to any demand as it is those who are demanding that control the politician.
Until public employee unions are banned, any agreements for pay or benefit increases need to be BALLOT issues. Taxpayers are the employers, NOT THEIR ELECTED OFFICIALS, who are OWNED by the UNIONS.
EVERYTHING that Obama has done since taking power has been directly to benefit the unions. UNIONS only represent 15% of our workforce. This along with the abhorant bills that made it into law are anti-private enterprise.
Unions have embezzled their members dues for years and the day of reconning is nigh.
Lame duck legislation could be very dangerous to those stupid enough to support it. And remember any thing passed into law can also be passed out of law. Obama will be forced to accede or face a very nasty demise. I wonder how he would enjoy a ZERO balance budget for his Whitehouse? Grounding of Air Force 1? Or perhaps a nice big Article of Impeachment?
Sen. Dick Durbin is backing CASHEW – Chicago Association Supporting Hate for Everyone White – but he denies the group is racist or promotes hate. SHOCKING story at:
http://spnheadlines.blogspot.com/2010/03/new-nut-...
Peace!
They are BUYING a voting block – with our money – to keep the money flowing to themselves!
Dems dish ustaxfunds to UNIONS, ACORN et al.
UNIONS, ACORN dish funds to DEMS.
Thus, DEMS dish ustaxfunds to…themselves.
This bill must be killed.
The sit-on-ass unions are largely responsible for why America is offshoring everything. I see this first hand. Who would you rather have work for you; the sit-on-ass guy with the doesn't give a damn attitude because he is "protected" by the union or somebody eager as Ward Cleaver because his livlihood depends on his own productivy?
The union menatlity of entitlement is killing America. If we truly want to fix America then the unions must die instead. That death is truly only a pension default away. Let them die naturally. This Bail-Out law is a certain burden upon us tax-payers, but far worse is it's life regenerative effect for the unions. I'm telling you as a person directly involved in manufacturing in Amercia, unions must die to save American free enterprise.
Unions stand for high pay minimal work and expanded benefits. I know I've been employed by unions and see very clearly their lop-sided work ethic and power grabbing. I will NOT pay one tax dollar to bail out corrupt unions nor will I pay tax dollars for abortions. So, if all conservative Americans would close their wallet to Uncle Sam guess what he cannot imprison the majority of citizens. The unions spent the money, let them borrow it from the FED at 0% like the banks after all let the workers of the world unite to solve their own greed created problem.
This is the same as paying $90.00 for dinner
and all you get is a half glass of water.
Storykeeper, you are exactly right. Unions are killing our competitiveness in manufacturing and are the reason why public employee remuneration far exceeds their private sector brethren. It is high time to strike back politically at this problem. My solution is everyone that lives in a state that has no right-to-work law should lobby their state senators and state reps to pass a right-to-work law. Right to work laws forbid the requirement of union membership as a condition of employment. If my memory is correct, 22 states have right-to-work laws. That means 28 states do not.
Further, it is my sense that a case can be made to outlaw union representation for public sector employees. Unions serve no purpose other than to apply political pressure to steal money they did not earn and they do not deserve. When that money is taxpayer money, it merely furthers the socialist cause and provides a built in political base for the donkeys.
The Republican party needs to be the party of "HELL NO!" on this one. Not only is it a terrible idea for all the reasons the author states, but these unions have been funding Democrat campaigns to the tune of 100's of millions of dollars just in recent years alone (how much over the decades?!), which means that bailouts of these troubled pensions, which would be less troubled if all that campaign money had gone into the pension funds, is basically a bailout of all these campaigns to get Democrats elected. It should be blindingly obvious to ANY GOP'er that this bailout will not help them in any way, shape, or form. Sadly, the squishy GOP'ers probably aren't smart enough to see it.
Your writers need to quit misidentifying the tyrant's party. These anti-American frauds are not socialists or progressives (a term they made up – like gay). They are Marxist Communists and need to identified as such. If people keep calling them socialists, the idiots out here in la-la land will think they're going to a beer-bong party.
GOP'ers not only see it, but they are a part of it. The government is a carefully orchestrated game of "good cop, bad cop". Keep your eyes open, you'll see it.
Soon the government will own eveything. Then we will have reached nirvana where we all are happy slaves.
Before ANY bailout is considered, I propose a law making it illegal for any organization with underfunded retirement plans making any political contribution.
If they can't afford to fully fund the obligations they have made to their members they damn sure shouldn't be giving members money to politicians.
MyKu:
Had a union job.
Tried to do work through a break.
Got yelled at. Morons.
How can anything these demo idiots have bailed out be paid for???In the long run, it will not work.In the short run, the unions will get their hands on taxpayer money and squirrel it away off-shore or just outright spend it as fast as they can…and the pensions will still sit there unfunded.I also wonder how many steel and auto workers that lost their retirements still vote democrat?
Well simtax, what you have stumbled upon is common sense. These people don't work on common sense. They work on fear, lies and intimidation. What you are suggesting makes perfect sense, which is why it will never happen.
As far as the Constitution, they have shredded it to little pieces, rolled it up and installed in all of the toilets in Congress and the Whitehouse and are wiping their asses with it.
Why involve the taxpayer?
If they're dead-set on redistributing wealth, why not take the money directly from George Soros and give it to the unions?
Not one thin dime of taxpayer money for the failing unions. Let them fail. They donate millions of dollars to the Democrats, and then beg for handouts. No, no, and no Casey (who will be voted out when his term is up), and Durbin (who will retire or get voted out when his term comes up). There, the taxpayers have spoken.
Hello, folks, have you taken one second to think about who actually benefits from a situation like this? It is BIG BUSINESS when pension obligations are removed from corporate finances. It is those horrid people who get big bonuses who will benefit the most. This bill is not a labor bill; it is a corporation bailout bill most likely lobbied for by big business.
pension funds are guaranteed by the government as they should be if a non union or union co. goes out of business the pbgc pays the pensioner. This bill is just to cover multi-employer funds which only guarantee a fraction of what is owed these tend to be 100 percent union and are mostly construction and build trade jobs. Why shouldn't Americans expect to get what is owed them. Companies now are not offering pensions and our 401k's are being pillaged by wall street and we know social security is going bust so what is the solution work till you drop this sound third world to me not the American dream. No one cares about these people who paid in to these pension plans for 40 years.
why work through a break to suck up to the boss?
if everyone makes minimum wages who buy the crap you make who pays taxes?
pensions are guaranteed by the government same as bank deposits
yes we do its called social security
and the ceo's of wall mart make millions and pay squat no benefits the lesser of two evils
average workers should have pensions and medical ins if wasn't for unions you would even have a minimum wage
without unions who represent the workers?
if no unions who represents workers?
what about minimum wages workplace safety who is going to represent the work big business
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