Free Republic

When it comes to accounting, the devil is in the details. A new Financial Accounting Standards Board (FASB) rule taking effect in December requires greater transparency for union pension plans and threatens to bankrupt organized labor. In order to survive, unions need a bailout and fast. This presents a political problem -- if unions go bankrupt, so do Democrats. Eleven of the top 20 largest political contributors are labor unions, and nearly all of that money is spent campaigning against Republicans. By bailing out unions, Democrats are bailing out themselves. Unions have known for years that their multiemployer pension plans...

On Tuesday May 25, Bradley Blakeman of Fox News wrote an article entitled, “Unions — The OTHER Democratic National Committee,” in which he discussed the incestuous relationship between the Democratic Party and unions. Blakeman writes: “Unions have made no bones about their upcoming involvement in the midterm elections of 2010. In short, unions are scared to death that they will lose their grip on their control of the House and the Senate unless they spend tens of millions of dollars and force their members to campaign for Democratic incumbents.” In view of this, Democratic Senator Bob Casey’s introduced legislation for...