The results of Tuesday’s primaries in KY, PA, and AR have sent shockwaves to both the GOP and Democrat Party. Tea Party-endorsed Rand Paul, son of Rep. Ron Paul (R-TX) defeated the GOP establishment’s Trey Grayson in Kentucky. In Pennsylvania’s Democrat primary, ex-RINO and party flip-flopper Arlen Specter lost to Joe Sestak, thereby ending his political career even with President Obama’s very public support. And in Arkansas, Blanche Lincoln (D) was forced to a June 8 runoff with Bill Halter (D).
In other words, Democrats are rightly very worried about their November prospects.
So desperate are the Democrats that they have already kicked into gear a plan to ignite a momentum: a bailout plan for union pensions to sway union voters their way.
Sen. Robert Casey (D-PA) authored a bill for $165 billion to bail out Big Labor pension plans:
Operating under the benign sounding title, “Create Jobs and Save Benefits Act of 2010”, Casey’s bill is actually nothing more than a transfer of approximately $165 billion in Big Labor’s pension debt over to the U.S. taxpayer.
For decades, one of the primary organizing tools used by labor unions has been the promise that their members will enjoy secure pensions upon retirement. Most of these union pensions are held in what are known as multi-employer pension funds. Created in 1974 as part of the Employee Retirement Income Security Act, these funds are an agreement between a union and two or more employers to fund the pensions of workers and retirees.
That’s no pocket change! American taxpayers are already on the hook for several bailouts and loans amidst unimproved unemployment numbers and troubled mortgages, why should we also help the union pensions? Most of the time unions do nothing but harm businesses anyway, and are known most of the time to back Democrats’ liberal, anti-capitalist programs.
Have no doubt about it, this bill is about re-energizing and buying back Big Labor’s support for the Democrats.
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