$165 Billion Bailout for Union Pensions
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Had enough massive federal bailouts? Our rulers in Washington haven’t. Next come the outrageously lavish and clearly unsustainable pension plans unions receive:
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.
Only $165 billion? Is that all? Actually, it isn’t:
Although right now taxpayers could possibly be on the hook for $165 billion, the liability could essentially be unlimited because these pensions have to be paid out until the workers die.
The piggy bank is empty, as the Thief in Chief has acknowledged. Yet the looting spree continues.
On a tip from Byron. Cross-posted at Moonbattery.
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