DEMS. PROPOSE TAXPAYERS FUND UNION PENSIONS
Costing at least 8 BILLION, the mother of all bailouts is in the works and taxpayers will be stuck big, with the bill. Owing the unions big, Democrats have proposed legislation putting U.S. taxpayers on the hook for mismanaged union pension funds. Union pension funds are only funded for about 62% of their financial obligations. Union pension funds are either mismanaged or stolen. Year after year we hear of millions stolen from union pension funds by union officials. Barely reported by the press the largest heist of 42 million from Laborers International Union of North American (LIUNA).was revealed in Jan. 2010..
Another case of embezzlement involves the Carpenters Pension Fund in Michigan.
Last year, Democrat Rep. Earl Pomeroy, of North Dakota introduced , H.R. 3936, The Preserve Benefits and Jobs Act of 2009. It would make the workers of new companies responsible for union controlled pension funds of other companies and would be backed by a taxpayer guarantee.
Democrat ,Sen. Bob Casey, of Pa has proposed the “Create Jobs & Save Benefits Act of 2010” mirrors Pomeroy’s bill of 2009.