Monday, May 24, 2010

What Do You Think About This?

The Next Bailout: $165B for Unions

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.

As FOX Business Network’s Gerri Willis reported Monday, these pensions are in bad shape; as of 2006, well before the market dropped and recession began, only 6% of these funds were doing well.

Okay. I know the easy answer is "Hell no" but before you answer, think of who this is really benefiting.

The men and women who earned these pensions will be the ones getting screwed.

What are your thoughts? Should we do this? Why is it our problem? Just curious as to what everyone else's thoughts are.


Sam Huntington said...

I remember when troubled union funds resulted in Jimmy Hoffa going to jail. How far we've come ...

LomaAlta said...

Union pension funds have been controlled by the mob for a long time. Bailing them out will help the crooks, not the workers.

Next will be bailout for the state media.

Z said...

But, Chuck, you're's like those in Greece, really; people who worked hard expecting a pension and we don't HAVE IT? So, they go on welfare, which we DON'T HAVE...

I don't know what this solution is but it hurts my stomach to think about it.

What do YOU think?

MK said...

democrats have to pay their masters you see. Not the voters or the workers, but the union thugs who largely sponge a nice living off the workers they supposedly represent.

Brooke said...

The only way I would pay for these pensions is if the unions agreed to major cutbacks and NO MORE pensions for any new hires.

But they won't.

So, my answer is HELL NO. The American taxpayer cannot keep supporting the insolvency of politicians, unions, and the like.

Mustang said...

Every morning I wake up hoping to find a hord of SIEU demonstrators on my lawn. I've always wanted to be on nationally televised news programs:


cube said...

I don't think it's fair to have taxpayers foot the bill for union pensions. Nobody is paying for my retirement but me.

Karen Howes said...

Yeah, Chuck, the pensioners won't benefit anyway.

Chuck said...

I have a tendency to come down on the side of the employees.

With that said, I had someone e-mail with a different perspective.

Her thought was that the rest of us lost our pensions, or a good chunk of it, in the economic slide. If you look at it from that way, why should they be bailed out by those of us who also lost money?

I guess the question here is, where did the money go?

Is it from the stock market decline? If so, then tough luck like the rest of us.

Did the union leadership steal it? This would not be the first time. If that is the case, off to jail.

Thanks for all of your comments. I can't say that I have an answer to this

Ticker said...

The well is running dry for the corrupt union thug leadership and the politicians who back them. Do I need to call names here those show who will be the only ones who will benefit? Re-election time is drawing near and they need the money.