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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.
Remember why we took to the streets for the first Tea Party Protests in 2009? It was bailouts. And those were bailouts of organizations that, at least, employed people.
Now the federal government is taking our money—our children’s money—to bail out the SEIU?
SEIU and other big labor unions are in financial straights because they’ve siphoned
billions hundreds of millions of dollars from their members’ pensions to bribe lawmakers like Bob Casey. Now they what you to reimburse the workers.
I say it’s time for the union rank and file to turn on their union bosses who squandered pension money to buy political influence. And they should start with Andy Stern.