Free Republic

Decades of theft, mismanagement and purchasing Democrat politicians have caught up to the criminal syndicates called labor unions. With very few exceptions the pension funds of these cabals stand seriously underfunded. Union pensions are now in such poor financial condition that, “the Pension Benefit Guarantee Corporation (PBGC)[ has declared] less than one in every 160 workers is covered by a union pension with required assets.” But make no mistake, when it comes to pension plans, some comrades are definitely more equal than others. A Hudson Institute report shows that while the mega union SEIU’s members’ plan is 75% funded, SEIU’s...

Why Democrats are Pushing the $165 Billion Union Pension Bailout by LaborUnionReport Somewhere lurking in the hot, putrid halls of Congress this summer is a union bailout bill of epic proportions and long-term ramifications. Whether or not Democrats can ultimately push it (or something like it) into passage is yet to be determined. However, with rumors that Sen. Dick Durbin (D-IL) signed on as a co-sponsor on Thursday, it would appear that the union bailout is quietly creeping along. If it passes, though, its ramifications surpass the mere $165 billion-plus price tag, as it will influence the political landscape for...