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Coming Pension Tsunami For Unions!

serfserf Member Posts: 9,225 ✭✭✭✭
edited October 2015 in Politics
Looks like Those Unions are finally will get sold out just like all those Medicare and Social Security recipients trust-funds that the baby-boomers are counting on too!

Now do you wonder why our government needs to monitor and watch all it's citizens now? Big brother with our illustrious Congress are worried about how well we the people will take it! [;)]

serf
http://money.cnn.com/2015/10/07/retirement/central-states-pension-fund-cuts/index.html

Before last year, these kinds of cuts would have been illegal. But a controversial law passed last December allows mutliemployer pension funds to cut benefits if they are projected to run out of money.

A lot of these funds, which cover more than 10 million workers, are in financial trouble.

The Pension Benefit Guaranty Corporation, which is supposed to insure these funds, also risks insolvency, Nyhan said.

He and others proposed legislation years ago that would allow the use of taxpayer dollars to shore up the funds, but it stalled in Congress.

Comments

  • Ricci WrightRicci Wright Member Posts: 9,670
    edited November -1
    Bad times a coming. No matter who the next pres is I think it's too late to fix all the mess they've created not without a lot of pain. And it won't be the privileged feeling the most pain. That will be us my brothers and sisters. Better get straight while there's time. Get out of debt and put some stuff away for a rainy year. Hey' it ain't all bad. We get to buy some more guns and bullets and food.
  • spasmcreekspasmcreek Member Posts: 38,925
    edited November -1
    bet it gets a bailout on the backs of the shrinking middle class...
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