First we go through the Bank bailouts, then GM gets some cash and a big chunk of the company turned over to the unions, the solar and wind cartels got buckets full of taxpayer cash and then Puerto Rico goes belly up with both hands out begging for mo money.
All this is just a precursor for any number of cities and even States that can't meet their financial obligations in the coming years. I guess that since it's been done before, it's now past practice to bail out whomever falls into troubled times.
Enter the next candidate for your hard earned, confiscated mullah..........
The Left’s Not-So-Secret Agenda for Bailing Out Union Pensions
http://click.heritage.org/HM0030K0rpBYDTP1erH004s
The administration and congressional Democrats are teaming up to force a taxpayer bailout of private unions’ underfunded and over-promised pension benefits.
On May 6, the Treasury Department rejected a plan by the Central State Teamsters trucking union to reduce some of its pension benefits to prevent the plan from going belly up within a decade. And on May 25, Senate Democrats sent a letter to Senate Majority Leader Mitch McConnell calling for Congress to “protect” the United Mine Workers of America’s health and pension benefits by passing the Miners Protection Act (S.1714), and to “address” troubled union plans like Central State’s.
“Protect” and “address” are code for bailout.
These proposals would bail out select, and politically influential, private-sector union pension plans. Half a billion a year for the United Mine Workers of America or even a couple billion a year for Central State may not seem all that significant, but it would open the bailout floodgates to more than $600 billion in unfunded pension promises across private union plans.
Lawmakers and taxpayers should not be fooled by the fact that those taxpayer dollars would first funnel through the abandoned mine land reclamation fund in hopes of erasing the appearance of a taxpayer bailout.
Unions—not Congress or taxpayers—made promises that they cannot keep and the unions—not taxpayers—must be held accountable for those promises.
All this is just a precursor for any number of cities and even States that can't meet their financial obligations in the coming years. I guess that since it's been done before, it's now past practice to bail out whomever falls into troubled times.
Enter the next candidate for your hard earned, confiscated mullah..........
The Left’s Not-So-Secret Agenda for Bailing Out Union Pensions
http://click.heritage.org/HM0030K0rpBYDTP1erH004s
The administration and congressional Democrats are teaming up to force a taxpayer bailout of private unions’ underfunded and over-promised pension benefits.
On May 6, the Treasury Department rejected a plan by the Central State Teamsters trucking union to reduce some of its pension benefits to prevent the plan from going belly up within a decade. And on May 25, Senate Democrats sent a letter to Senate Majority Leader Mitch McConnell calling for Congress to “protect” the United Mine Workers of America’s health and pension benefits by passing the Miners Protection Act (S.1714), and to “address” troubled union plans like Central State’s.
“Protect” and “address” are code for bailout.
These proposals would bail out select, and politically influential, private-sector union pension plans. Half a billion a year for the United Mine Workers of America or even a couple billion a year for Central State may not seem all that significant, but it would open the bailout floodgates to more than $600 billion in unfunded pension promises across private union plans.
Lawmakers and taxpayers should not be fooled by the fact that those taxpayer dollars would first funnel through the abandoned mine land reclamation fund in hopes of erasing the appearance of a taxpayer bailout.
Unions—not Congress or taxpayers—made promises that they cannot keep and the unions—not taxpayers—must be held accountable for those promises.