Science fiction movies often have a plot in which human beings are captured for or bred to be food for aliens. Sometimes I read something that makes me feel as though I am in such a movie. Instead of being bred for food I am being bred as a money supply. And this story makes me feel that way:
The Next Bailout: $165B for Unions
A Democratic senator is introducing legislation for a bailout of troubled union pension funds. If passed, the bill could put another $165 billion in liabilities on the shoulders of American taxpayers.
This travesty is brought to you by Sen. Bob Casey (D-Pa) who says
it will save jobs and help people.
Once again, all of us are put on the hook for unions. It wasn’t us who made unsustainable promises to union members. It wasn’t us who made poor investment decisions. And it you thought $165 billion would be all you’d be on the hook for it you would be wrong.
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.
And unions really know how to spend money.
You know that if this passes, it would become another unlimited bailout and another Obama promise reneged upon. Just like this promise:
Just last week President Obama said there would be no more bailouts.
This is simply unbelievable. Unions have $100 million to put into political campaigns this year:
At least two influential unions will spend close to $100 million on the 2010 election, with most of those funds going to protect incumbents.
And unions have the money to burn to send 500 thugs to harass and intimidate private citizens, cause damage to personal property and frighten minor children.
We all have to bail this out with our own money. Casey wants to make their problems our problems.
But what of our problems? Who will bail out our retirement plans? Why are union members more important Americans than non-union members?
It sucks. I’d mad as hell as I am not going to take it any more.
DrJohn has been a health care professional for more than 30 years. In addition to clinical practice he has done extensive research and has published widely with over 70 original articles and abstracts in the peer-reviewed literature. DrJohn is well known in his field and has lectured on every continent except for Antarctica. He has been married to the same wonderful lady for over 30 years and has three kids- two sons, both of whom are attorneys and one daughter on her way into the field of education.
DrJohn was brought up with the concept that one can do well if one is prepared to work hard but nothing in life is guaranteed.
Except for liberals being foolish.