Critics Say Some Republican Congressmen Support “Bailout” of Union Pensions

Michigan Capitol Confidential ^ | 5/31/2010 | Ken Braun

[MichCapCon]

Michigan Congressman Thad McCotter, R-Livonia, is one of just nine Republicans nationwide to co-sponsor legislation that seeks to bail out union pension funds and put taxpayers "on the hook for $165 billion in unfunded union pension liabilities," according to Americans for Limited Government. McCotter is also the only Michigan U.S. House member from either party to co-sponsor the bill, H.R. 3936, which was introduced by North Dakota Democrat Earl Pomeroy and has 43 total co-sponsors.

One former co-sponsor, Republican Mike Pence of Indiana, removed his name from the bill in late April, and Americans for Limited Government is asking the remaining co-sponsors to do likewise. ALG sent an open letter specifically to the nine other Republicans — including McCotter — whose names remain on the bill.

In a news release, ALG President Bill Wilson noted that "labor bosses" spent "hundreds of millions of dollars" to support President Barack Obama, the Democrat majority in Congress, and the nine Republican co-sponsors. Wilson also accused the unions of having the "audacity to try to cash in on their political investment" by passing the bill and loading the liability onto taxpayers who are already "struggling to fund their own retirements."

Records from OpenSecrets.org show that McCotter has received more than $870,000 in total funding so far this election cycle, with at least $78,000 of that coming from political action committees run by labor unions...

[icwhatudo]

Besides giving money to democrats and the mafia, what are union pension funds supposed to be used for? Pensions? Oh, thats right...

[Paladin2]

I suspect McCotter wants to be re-elected.

In general, he has been quite disappointingly quiet of late.

[E. Pluribus Unum]

Every bailout brings us one step closer to the currency collapse that will end all their precious federal "social safety nets."

Then we can FINALLY get back to survival of the fittest.

That ain't going to be them.

[icwhatudo]

Sad to see Pence once supported this crap. That would cause me to reconsider supporting him as any sort of GOP candidate in the future.

[cripplecreek]

Its impossible to be a michigan politician without some form of union relationship. HOWEVER, there’s a big difference between dealing with them and being owned by them.

McCotter is stepping over that line.

[Recon Dad]

Does anyone know how much the union members contribute to their own pensions?

[Mr. Bird]

First I’ve heard of this. Are union pensions currently covered by the PBGC? If not, and this bill is simply trying to place union pensions in the same regulated category as non-union pensions, I’m less outraged. If it is a brazen attempt to provide union pensions with superior protection, any supporter from the GOP ranks should be thrown out on his/her ass.

[Comparative Advantage]

Besides Pence, who are the other Republicans who supported this union pension bailout?

[MichCapCon]

http://www.youtube.com/watch?v=uWjoXZ8gepk&feature=player_embedded

[bwc2221]

Some FReepers like McCotter, but he has some serious RINO tendencies. He’s a member of the Main Street Partnership (a group of “progressive” Republicans).

[MEGoody]

Critics Say Some Republican Congressmen Support “Bailout” of Union Pensions

I have no doubt. This is yeat another reason we need to work hard to get real conservatives to run for Republican offices. Then we need to work hard to help them WIN.

[Vaduz]

Congress-owned owners=unions&mafia.

[newfreep]

From the article....

The Teamsters, Service Employees International Union (SEIU), and Laborers International unions are on the list of "significantly underfunded" multi-company pensions eligible for bailouts under the Pomeroy bill, according to the statement by ALG.