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View Full Version : U.S. Issues The Next Bailout: $165B for Unions


petegz28
05-24-2010, 10:36 PM
http://www.foxbusiness.com/personal-finance/2010/05/24/lawmaker-introduces-b-union-pension-bailout/

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.

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.

It’s hard to say at the moment what the chances are that the bill will pass. A hearing is scheduled Thursday, which will give the public a sense of where political leaders sit on the topic, said Willis.

Just last week President Obama said there would be no more bailouts

petegz28
05-24-2010, 10:40 PM
Gee, where were the bailouts for all the people who lost their fucking jobs?????

Ebolapox
05-24-2010, 10:42 PM
fuck, why not. it's just monopoly to these fuckers anyway.

Chocolate Hog
05-24-2010, 11:03 PM
It's the Democrats who are the extremist.

petegz28
05-24-2010, 11:06 PM
It's just choice.....the tax payer who most of which have nothing to do with any of these pensions and struggling through a shitty global economy are now on the hook for some Union pensions.

HonestChieffan
05-25-2010, 05:00 AM
Bring me the votes, Ill bring you the money, everybody wins. Chicago comes to DC

orange
05-26-2010, 05:21 PM
The pin-headed weanies need to stop smoking it and get back to reporting the facts. LMAO


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HonestChieffan
05-26-2010, 05:26 PM
He is in a huge union dominated district. He is an asshat.

Taco John
05-26-2010, 05:35 PM
The pin-headed weanies need to stop smoking it and get back to reporting the facts. LMAO


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That was kind of a silly video. He says they're not bailing out unions, and then goes on to explain that they are bailing out union pensions.

stevieray
05-26-2010, 05:37 PM
hey, his feelings were hurt.

Taco John
05-26-2010, 05:41 PM
There is no way in hell that the American people should be on the hook for union pensions.

The Mad Crapper
05-26-2010, 06:38 PM
hey, his feelings were hurt.

Orange?ROFL

notorious
05-26-2010, 09:33 PM
There is no way in hell that the American people should be on the hook for union pensions.

There is no way in hell that any American Citizen should be on the hook for any other American Citizen.


Personal responsiblity FTW.


When a few of the large business were near failure, the government should have said,"Sorry, you suck at business!" Another business would have taken their place, thus renewing the cycle.

Instead, the government jumps in, throws money at a failure, which in turn stops any other company from potentially benefiting.

The worst thing for the US is to have the same money stay with the same company and/or people.

Chiefs Rool
05-26-2010, 10:02 PM
The only that matters is money. If a good bill was propsed to help out 98% of the Americans but if that meant that it would mean that the top 1% would lose a tiny bit, well then someone would bribe the Supreme court to veto it and just make a couple of people rich and say fuck us all.

King_Chief_Fan
05-28-2010, 07:37 AM
That was kind of a silly video. He says they're not bailing out unions, and then goes on to explain that they are bailing out union pensions.

that fugger is retarded......Corporations/companies do not own the union pensions. Unions require that the company paid pensions be given to the union for administration. Union pensions were in trouble a long time ago due to the mis handling of those funds by union leaders.

craneref
05-28-2010, 12:42 PM
There is no way in hell that any American Citizen should be on the hook for any other American Citizen.


Personal responsiblity FTW.


When a few of the large business were near failure, the government should have said,"Sorry, you suck at business!" Another business would have taken their place, thus renewing the cycle.

Instead, the government jumps in, throws money at a failure, which in turn stops any other company from potentially benefiting.

The worst thing for the US is to have the same money stay with the same company and/or people.

Whoa...who approved all that common sense talk?? There is to be none of that, only worry about the children, the rich are evil as are all americans talk is allowed! :p

alpha_omega
05-28-2010, 01:11 PM
It's ok...just give 'em some of that Obama money!