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May 25, 2010

Another Bail Out … This Time for the Unions, $165 Billion

Posted in: Barack Obama,Budget Deficits,Economy,Government,Obamanation,Politics,Tax & Spend Liberals,WTF

As if the United States is not in enough debt and the Obama Administration has not spent us into oblivion. Obama and the Democrats, the GIFT THAT KEEPS ON TAKING!

Along comes another bail out, say it isn’t so. This time the Democrat cronies at the Unions are the beneficiaries. That is correct, another $165 billion for the US tax payers. Had enough yet?

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.

Didn’t Obama say there would be no more bail out?

Hasn’t the Obama Administration put enough burden on the shoulders of tax payers and the children and grand children for years to come? Now Democrats want to pay off their constituents with a bail out for mishandling union dues?

So the American tax payer has to bail out another mishandled union pension plan? Like putting more money in the union coffers is going to fix the problem. How come Unions don’t get the same treatment from Obama and the Democrats like the fat cats on Wall Street? What’s the difference?

From Town Hall.com … good grief, Obama and the Democrat bail outs are the gift that keeps on giving, or is it taking?

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.

Weasel Zippers says it best as only they can and basically sums up the feelings of an over-burdened country.

Of course there is no correlation to the Democrats willingness to bail out Unions and the fact that Unions have stated that they will spend $100 million in 2010 for Democrats to be reelected. None what-so-ever. Hmm, spend $100 million to get $195 billion, not a bad deal, eh?

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