Posted on 04/16/2021 9:20:44 AM PDT by Rusty0604
The $86 billion bailout for failing union-managed, multiemployer pensions was part of Biden's $1.9 trillion coronavirus stimulus bill
The bailout funds for the pensions was part of the $1.9 trillion coronavirus stimulus bill Biden signed on March 11. Labor Secretary Marty Walsh, leaders in the labor movement, and some Ohio Democratic lawmakers held a virtual event to celebrate the bill's support for the struggling pensions.
On Thursday, Walden applauded Biden and the Democrat-led Congress for passing the rescue funding for the struggling union pensions. Walden said union members were making new purchases as soon as they heard that their pensions were saved.
"Treasury's going to get taxes out of that right off the top, you know, back into the IRS, and then we're going to continue spending our money," Walden said. "We're too old to save, and we don't make enough to save so we put it back in. I can tell you just the start of this how many of my friends went out and bought new cars as soon as they heard that their pensions are going to be saved. And not only new cars, they've stepped up, they've picked up remodeling their homes, some of them are looking at homes rather than looking to sell their homes.
(Excerpt) Read more at justthenews.com ...
“We were better off when the mob was running things,” said Walden, president of the National United Committee to Protect Pensions, according to the report about his labor-related advocacy
"We're not the sharpest bulbs in the drawer"
It’s the gift of capitalism. Those in power have more to milk than communists.
So let’s get this straight...... the Cadillac pension system was going broke so it needed to be bailed out to the tune of 86B?
That is wrong.
To make matters worse..... how many changes are they making to prevent the pension system from going broke again?
None. That is just theft. They know they will get bailed out again. If you think for one second that the democrats in congress will not bail out the blue states and cities who have the same Cadillac pension problem you are sadly mistaken.
This is one of the biggest steps on the road to insolvency and they just took it with barely a raised eyebrow in the media or public. Public service workers pensions make the auto-companies look pale in comparison.
> “We were better off when the mob was running things”
Wow! Now the Mob is back! What’s not to love?
It's the grift that keeps on grifting.
The bill to bailout the public employee pensions will be higher. That’s where the money in the bill to State and local governments is going.
Because union workers retirement should consist of new cars and home remolding. Isn’t it great when you vote yourself the treasury?
Yeah, I know. It’s a gross violation of the rights of residents in red states where they try to practice fiscal responsibility.
We truly are two America’s now. The blue side has all the power because they can find as many votes as they need when they need them.
The stock market loves the glow of growth of sales until the light goes out.
I’ve got news for you. The red counties in NYS are getting screwed, too.
Enabling the thieves in Albany only hurts us.
I don’t doubt it one bit. I am in a state like that also..... run by one county who imposes their will and idiocy on the rest of us while they steal our money and regulate us to death.
“It’s called a hustle, sweetheart.”
Money laundering.
Some of it will go to Democrat politicians.
We live in a nation run by thieves.
“ The stock market loves the glow of growth of sales until the light goes out.”
Pension plans invest in the market. Stocks will go up. Nothing new here.
"Labor leader: Union workers buying new cars, 'remodeling their homes' after Biden pension bailout [??? emphasis added]"
FR: Never Accept the Premise of Your Opponent’s Argument
It can be argued that the states uniquely have the 10th Amendment (10A)-protected power to tax and spend to bailout pensions, depending on the threshold of pain of patriot taxpayers whose votes are probably fraudulently switched to democratic candidates anyway.
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States." —Justice John Marshall, Gibbons v. Ogden, 1824.
”From the accepted doctrine that the United States is a government of delegated powers, it follows that those not expressly granted, or reasonably to be implied from such as are conferred, are reserved to the states, or to the people. To forestall any suggestion to the contrary, the Tenth Amendment was adopted. The same proposition, otherwise stated, is that powers not granted are prohibited [emphasis added].” —United States v. Butler, 1936.
On the other hand, regardless of their 10A powers, the states have also expressly constitutionally prohibited both themselves and the federal government from establishing privileged / protected classes which is arguably what the desperate Democratic bailouts for union pensions are effectively doing.
"Article I, Section 9, Clause 8: No Title of Nobility shall be granted by the United States [emphasis added]: And no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State."
"Article I, Section 10, Clause 1: No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility [emphases added]."
Insights welcome.
Also, patriots need to primary (2022) candidates for federal and state lawmaker who don’t agree to the following.
When the federal government accuses someone of violating one of its laws, judges and law enforcement officials should be required to do this.
Judges and law-enforcement officials need to inform the accused of the constitutional clause(s) that arguably justifies the allegedly broken law for further scrutiny of the constitutionality of that law, especially where unconstitutional federal peacetime gun control laws are concerned imo.
See, it’s working! Just look at all the economic activity. /sarc (for all the FR stick in the muds)
We’re not the brightest stars in the constellation.
Thank you!
How can any pension fund be underfunded. The stock market has reached new highs every day. Defined benefit plans should have surpluses unless of course the benefits promised and the number of retirees are both large.
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