Bet your last dime that Democrats and RINOs are not talking about it on the campaign trail.
Instead, bloated, 'entitled' incumbents plan to work out a deal after the election, during the lame duck session, sticking taxpayers with another $165 billion union bailout. These parasites never met a lie they couldn't live with. They will destroy what's left of our fumbling economy just to protect their union-thug buddies.
Oily dime-store politicians like Bob Casey (D-PA), Patrick Tiberi (R-OH) are out on the campaign trail - all smiles and baby-patting - hiding the fact that they are about to stick another nail in the coffin.
Mr. Casey's bill, the Create Jobs and Save Benefits Act of 2010, is similar to that of Representatives Earl Pomeroy, a North Dakota Democrat, and Patrick Tiberi, an Ohio Republican, who seek to bail out pension plans with their proposed Preserve Benefits and Jobs Act of 2009, introduced last fall. Congress: Rescue Underfunded Union Pension Plans?Tell everyone you know about this; we cannot and will not let them get away with it.
Under these bills, the Pension Benefit Guaranty Corporation would, at the request of the plans, have the authority to take over the pension obligations of employers who have withdrawn from the plans, and pay the benefits out of taxpayer dollars. Once the PBGC shoulders that obligation, it would keep making payments until the last retiree or designated survivor dies.
Since many multiemployer plans are in financial difficulty, this legislation, if enacted, could dramatically increase the federal deficit, putting even more pressure on the American taxpayer and the economy. Depending on events, it might add billions to government spending-current underfunding levels are estimated at $165 billion-bumping up future deficits.
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