Gotta protect their meal ticket, don’t you know?
Sen. Robert Casey (D., Pa.) and Rep. Earl Pomeroy (D., N.D.) are pushing legislation that would commit taxpayers’ dollars to bailing out the Teamsters’ retirement pension fund. The financial crisis and the Great Recession may have upset your retirement plans, but that’s not reason that politically connected union thugs have to share the pain…
…This is worrisome for a lot of reasons, as Vernuccio points out: First, it establishes a precedent for taxpayer-funded bailouts of union pensions. As galling as it would be to bail out the Teamsters and their other private-sector union buddies — whose meatheaded management of their pensions has left them with as much as $165 billion in unfunded obligations, according to Moody’s — things would immediately get much, much worse if that precedent were used to justify a bailout of the public-sector unions, whose unfunded pension liabilities run into the trillions…
This is the price of continued union donations to the Democrat party – make sure the unions, public and private, are parked on the taxpayer’s dime, forever. Unions know they are getting politically toxic and also know that the private sector just can’t afford the lavish union benefits…so, hook them up to Uncle Sam’s teat! After all, its only taxpayer money! That grows on fricking trees!
Do understand that our entire nation is being sold down the river by a political class which only wants to keep itself in power for one more election cycle…that is all they care about. If they manage to bamboozle us in 2010, then their whole goal will be to keep in power for yet another cycle. Whatever it takes, they’ll do it…and they don’t care, even if they realize, that this is bankrupting our nation and leading us on a path to destruction…all they want is their personal power and wealth to be ever increased.
