Lame Duck Scare for Union Pension Bailout(Taxpayers again)

Human Events ^ | 8/23/2010 | Connie Hair

[Revel]

New rules expected from the Financial Accounting Standards Board (FASB) are causing massive heartburn for Big Labor and fueling a new backroom push in Congress for a taxpayer bailout of underwater union pensions.

With nine Republican co-sponsors of the House bill, Big Labor is pushing for passage during a lame duck session after the November elections.

........

A bill introduced by Sen. Bob Casey (D-Penn.), and a bill from Rep. Earl Pomeroy (D-N.D.) in the House, would for the first time put taxpayers on the hook for these underwater union pension plans.

........

Moody’s Investors Service estimates a whopping $167 billion price tag for these underfunded union pensions.

........

The Senate bill has no Republican co-sponsors but the House bill has nine:

Aaron Schock (R-Ill.), Jo Ann Emerson (R-Mo.), Thaddeus McCotter (R-Mich.), Steven LaTourette (R-Ohio), Pat Tiberi (R-Ohio), John Linder (R-Ga.), Tim Murphy (R-Penn.) and Peter Roskam (R-Ill.).

Much More At link:

http://www.humanevents.com/article.php?id=38669

[Revel]

Thanks again Connie.

[airborne]

One of my jackass Senators, Bob Casey, buying votes.

Par for the course here in PA, unfortunately.

I hope we can get some relief in November by electing Pat Toomey.

[Mortrey]

“With nine Republican co-sponsors of the House bill....”

Who the hell are THEY?!? (Snowe, Collins, Brown, Graham,.....probably the USUAL suspects.....)

The Enemies Within.

[Brad from Tennessee]

Rather than bailouts, assets of delinquent companies and unions should be seized by the courts and liquidated with pensioners receiving a one-time cash payout they can roll over into another program.

[Cyber Ninja]

Be generous. Give them social security and no a penny more.

[Minn]

Uh...house. As in not senate.

[rawhide]

The Senate bill has no Republican co-sponsors but the House bill has nine:

The ones you mentioned are all Senators. Not all Democrats Senators are on board with this.

[Aria]

Aaron Schock (R-Ill.), Jo Ann Emerson (R-Mo.), Thaddeus McCotter (R-Mich.), Steven LaTourette (R-Ohio), Pat Tiberi (R-Ohio), John Linder (R-Ga.), Tim Murphy (R-Penn.) and Peter Roskam (R-Ill.).

They're insane. At least the rats have an excuse...they're rats.

[Lancey Howard]

Not all Democrats Senators are on board with this.

Presumably the ones coming up for re-election soon?
Anyway, it sounds like this latest corruption and stupidity is filibusterable. (Hey, is that a word?)

[ding_dong_daddy_from_dumas]

Yippie, the GOP is going to take over the house and we will all live happily ever after!!!!

Oh, wait....

With nine Republican co-sponsors of the House bill, Big Labor is pushing for passage during a lame duck session after the November elections.

[skookum55]

How could sticking the taxpayer for union pensions be regarded as providing equal protection under the law? I’m having a hard enough time funding my retirement program and the retirement program of our government slugs.

[Tzimisce]

They’re going to make a play for our 401K’s.

So much for working hard and doing the right thing. :(

[Revel]

Your server clock appears to be set way ahead in time. The time stamps seem to be way off(maybe 5 minutes?). Thanks.

[Revel]

Your post was a hoot!

[Revel]

“They’re going to make a play for our 401K’s.”

There has been lots of talk of that.

[1COUNTER-MORTER-68]

“They’re going to make a play for our 401K’s.”
~~~
It sure looks that way,,,

This would be a good time to take the hit and cash out,,,

Some of my friends have done this months ago,,,

Little gold,little silver,Lotta lead,,,

Some are ready for the “hunker down” mode,,,

Others are ready...

[SunkenCiv]

Thanks Revel.

New rules expected from the Financial Accounting Standards Board (FASB) are causing massive heartburn for Big Labor and fueling a new backroom push in Congress... A bill introduced by Sen. Bob Casey (D-Penn.), and a bill from Rep. Earl Pomeroy (D-N.D.) in the House... Moody's... estimates... $167 billion price tag... The Senate bill has no Republican co-sponsors but the House bill has nine: Aaron Schock (R-Ill.), Jo Ann Emerson (R-Mo.), Thaddeus McCotter (R-Mich.), Steven LaTourette (R-Ohio), Pat Tiberi (R-Ohio), John Linder (R-Ga.), Tim Murphy (R-Penn.) and Peter Roskam (R-Ill.).

[Jimmy Valentine]

The reason the union pension funds are upside down is because the union officials spent their members pension money lobbying Congress and buying votes.

Just damn them.

[2harddrive]

HELL NO! Who is going to bail out US???