McCotter: Union Bailout Not a Bailout - Unless.....

The Lonely Conservative ^ | 6/1/10 | The Lonely Conservative

[NY Hockey Mom]

As I’ve said before, I like Rep. McCotter, but I’m vehemently against him on this issue.

In the video below, Rep. Thaddeus McCotter (R-MI) talked about HR 3936 on the House floor. Basically he says it is only a union bailout if the unions and their pension plans fail. Gee, what are the odds of those woefully underfunded pension plans failing?

The Wall Street Journal provides a clue, while analyzing the Senate’s version of the bill. ....

[Oceander]

It is a bailout because there is a substantial number of union pension funds that are already on the brink of failure, and the bill sets up perverse incentives to force other union pension funds to fail so that they all ultimately end up being run by the pension guaranty fund, which, of course, mainlines taxpayer revenues.

[Minn]

It's time for a lot of people with cushy pensions to accept the fact that the arrangements those pensions stem from unconscionable contracts and should not be honored. If they are public pensions, they are the result of corrupt bargains between corrupt politicians and corrupt unions that corruptly elected them and corruptly conspired with them to steal from taxpayers.

If they are private pensions they are the result of gross miscalculations about the viability of the operation that was supposedly going to generate the revenue to service them. Firms on the hook for them will need to enter bankruptcy.

[DontTreadOnMe2009]

It’s time for a lot of people with cushy pensions to accept the fact that the arrangements those pensions stem from unconscionable contracts and should not be honored. If they are public pensions, they are the result of corrupt bargains between corrupt politicians and corrupt unions that corruptly elected them and corruptly conspired with them to steal from taxpayers.
If they are private pensions they are the result of gross miscalculations about the viability of the operation that was supposedly going to generate the revenue to service them. Firms on the hook for them will need to enter bankruptcy.

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And, all are the result of coercion ...

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In NY, at a trade show I attended, you are not allowed to plug in your own light; I mean to bend down and plug in a room lamp at the hotel ...

Union guy must do it

$75 ..........

[CPT Clay]

No more bailouts.

[Lazlo in PA]

This is a real loser for McCotter. There are a dwindling number of union votes to do this.