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Monday, May 24, 2010

The Next Bailout: $165B For Unions

Taxpayers could be on the hook for another $165 billion if a bill to bail out private union pension funds makes it through Congress.

A Democratic senator is introducing legislation for a bailout of troubled union pension funds. If passed, the bill could put another $165 billion in liabilities on the shoulders of American taxpayers.

The bill, which would put the Pension Benefit Guarantee Corporation behind struggling pensions for union workers, is being introduced by Senator Bob Casey, (D-Pa.), who says it will save jobs and help people.

More here

11 comments:

Anonymous said...

The greed of unions destroyed manufacturing in this country

Anonymous said...

I want a bailout. Who do I call?

Anonymous said...

So the bankers steal the pension funds, and then the taxpayers guarantee the pensions.

Beautiful

Our government no longer passes laws which are stupid or dumb or assinine. Our government is emphatically a criminal enterprise with the corporate elite.

Anonymous said...

Let me get this straight-- I don't even have a retirement pension or health benefits, but the feds want me to help pay for union members' underfunded Cadillac plans while the unions go out and blow millions on campaign contributions, protests and lobbying.
And the new financial regulation bill contains a sweet deal for the Teachers Unions to keep them from getting laid off.
This is some of the most blatant corruption we've seen since.. well, Al Capone.
Chicago, Chicago.. (are you singing along?)

Anonymous said...

If your young and retire with an inflation-adjusted, taxpayer-funded, six figure annual income for life--it's not a pension. It's a trust fund. (ouch!)

Anonymous said...

Who's job will it save and who will it help except for the unions that have already destroyed our country? People will soon become destitute because of what the government has done to them and will have nothing left to loose. That's when the booldshed will begin and it's right around the corner. Lock and load and get ready for the ride.

Anonymous said...

Who will support this nonsense?

Orsonwells said...

OK, I did the research. Many walkouts without paying, other problems.
This is NOT what bikers are about! I am 56 and a single father of 3 and love biking events. Except I want nothing to do with this one. I'll ride for Toys for Tots and fun rides, Charity rides, but want no part of this dilemma. These people are just using the populous influx as a way to skate out of their bills.

Shame on them

Any OC business should turn them away and use past history to defend themselves against the inevitable race card that will be displayed.

Let's just cut their n_ts off before they hit town!

Anonymous said...

After I pay for this, I'm going to be broke. Will Congress bail me out, so that I can get my money back from everybody else?

Anonymous said...

This is vote buying !

Anonymous said...

The tea party vrs the Unions. Who will come out on top!?