As Fox News is reporting, Senator Bob Casey (D-PA) is pushing a bailout for Big Labor to the tune of $168 billion dollars. Casey’s bill would bailout Big Labor’s pension funds by putting the “Pension Benefit Guarantee Corporation behind struggling pensions for union workers.” The problem, as Erik Berte notes, the liability and exposure to tax payers could far exceed the $168 billion because taxpayers “liability could essentially be unlimited because these pensions have to be paid out until the workers die.”
News of Casey’s bill comes shortly after The Hill reported Big Labor is poised to spend in excess of $100 million to bailout endangered incumbent Democrats in the mid-term elections.
“At Least Two Influential Unions Will Spend Close To $100 Million On The 2010 Election, With Most Of Those Funds Going To Protect Incumbents.” (Kevin Bogardus and Sean J. Miller, “Unions To Spend $100M In 2010 Campaign To Save Dem Majorities,” The Hill, 5/21/10)
“The American Federation Of State, County And Municipal Employees (AFSCME) Plans To Spend In Excess Of $50 Million During The 2010 Campaign…” (Kevin Bogardus and Sean J. Miller, “Unions To Spend $100M In 2010 Campaign To Save Dem Majorities,” The Hill, 5/21/10)
• “The money will go to help defend the union’s top tier of eight Senate seats and 34 House members.” (Kevin Bogardus and Sean J. Miller, “Unions To Spend $100M In 2010 Campaign To Save Dem Majorities,” The Hill, 5/21/10)
“The Service Employees International Union (SEIU) Plans To Spend $44 Million In Total On Its 2010 Election Program.” (Kevin Bogardus and Sean J. Miller, “Unions To Spend $100M In 2010 Campaign To Save Dem Majorities,” The Hill, 5/21/10)
• “SEIU has a list of 15 top-priority House districts across the country that it plans to campaign in to protect members who voted for the healthcare reform bill.” (Kevin Bogardus and Sean J. Miller, “Unions To Spend $100M In 2010 Campaign To Save Dem Majorities,” The Hill, 5/21/10)
“And The Number Will Be Even Higher Since The AFL-CIO Declined To Give Its Figures.” (Kevin Bogardus and Sean J. Miller, “Unions To Spend $100M In 2010 Campaign To Save Dem Majorities,” The Hill, 5/21/10)
• “Karen Ackerman, the AFL-CIO’s political director, told reporters on Wednesday that the labor federation will be active in 18 states, will campaign in gubernatorial and Senate races and will likely have a role in 60 to 70 House races this election.” (Kevin Bogardus and Sean J. Miller, “Unions To Spend $100M In 2010 Campaign To Save Dem Majorities,” The Hill, 5/21/10)
If Big Labor has an extra $100 million laying around to finance ad campaigns and GOTV efforts for a few dozen Democrats, they can chip in and fix their pension funds themsleves.
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