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Thread: A coal miner pension bailout could set the stage for a multi-trillion-dollar taxpayer bailout.

  1. #1

    Default A coal miner pension bailout could set the stage for a multi-trillion-dollar taxpayer bailout.

    A bipartisan group of federal lawmakers from coal country have introduced an updated bill to use federal taxpayer dollars to pay for the broken promises of one particular coal mining union—the United Mine Workers of America, or UMWA.
    If passed, this bill could be the tip of a multi-trillion dollar taxpayer bailout. President Trump, whose sympathy for the miners is well known, should beware, along with Congress.
    That’s because the UMWA is not the only pension plan that has made promises to its workers and failed to set aside the funds to keep those promises. Out of nearly 1,400 union-run or “multiemployer” pension plans across the U.S., 85 percent of them are less than 70 percent funded, and they have promised $500 billion more than they can pay.

    More at: http://www.foxnews.com/opinion/2017/...ont-do-it.html
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    And what about the millions of people that have been screwed out of their private sector pensions in the past 30 years? Back pay plus interest and COLA?
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  4. #3

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    Quote Originally Posted by Brian4Liberty View Post
    And what about the millions of people that have been screwed out of their private sector pensions in the past 30 years? Back pay plus interest and COLA?
    Some animals are more equal.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment






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