Biden releasing nearly $36 billion to aid pensions of union workers

CNBC ^ | 12/9/2022 | CNBC

[PK1991]

- President Joe Biden on Thursday is announcing the infusion of nearly $36 billion to prevent severe cuts to the retirement incomes of more than 350,000 Teamster workers and retirees across the United States. - The money for the Central States Pension Fund is the largest amount of federal aid provided for a pension plan. - The funds come from the American Rescue Plan, a $1.9 trillion coronavirus relief package signed into law in 2021. - Biden traveled to Ohio in July to highlight the final rules for the pension relief program. Before Thursday, the program had awarded aid to 36 troubled pension plans, but none of those had received more than about $1.2 billion.

- The amount going to the Central States Pension Fund represents somewhere between one-third and one-half of the total estimated cost of the federal aid program.

[PK1991]

Building back better ...

[albie]

Does diaper head HAVE 36 billion?

[Stevenfo]

If you are a union pension fund manager why worry about rate of return? Just wait for a bailout. Concentrate on increasing salaries and benefits for the fund managers, and having lots of conventions in Miami or Las Vegas.

[bert]

-—The funds come from the American Rescue Plan,-—

The money is just sitting there and is now stolen.

The Democrats are all thieves and must be exterminated for America to be

[elpadre]

Is there any way the new House can retrieve those massive Covid funds sitting out there?? It would be good to return all unspent funds on 12/31/2022 to the Treasury.

[fuzzylogic]

2 questions....

1. Who is going to prison? How can it be this mismanaged and go unnoticed?

2. How is this going to be accounted? Where, exactly, does this money go? I’ve a suspicion it won’t go to pensioners, for the same reason this bailout is needed in the first place - it’s used as a slush fund for D campaigns and personal benefit.

[oldasrocks]

Talk about TREASON!

[DeplorablePaul]

Yep, the Build Back Better scam created a huge slush fund for Democrat vote buying. Jimmy Hoffa is laughing in his grave where ever he is. I heard he was buried at the Meadowlands in NJ.

ps

Hoffa was pardoned by Nixon

[virgil]

The government is being ran by corrupt fat cats and looters.

[Yardstick]

This amounts to Biden giving $36 billion to a Democrat aligned PAC.

The Democrats have quite a racket going as far as self-dealing taxpayer money. They’ve sort of managed to attach the inlet and outlet hoses of the federal vacuum cleaner as it were...

[bert]

Redistribution of wealth is the cure for inequality.

Those that are unequal become thieves and steal the wealth.

Thieves must be eliminated

[hardspunned]

The union bosses drain union funds and split the cash with dem politicians who use tax dollars to make up the difference. That’s some pretty slick back washing going on there.

[cpdiii]

Inflation has robbed my retirement fund of about 70,000 dollars this year. Is Joe “gonna” write me a check for this?

[Pollard]

While they supported Republicans Ronald Reagan and George H. W. Bush for president in the 1980s, they have begun leaning largely toward the Democrats in recent years; they have donated 92% of their $24,418,589 in contributions since 1990 to the Democratic Party. Though the union opposed former President George W. Bush's agenda to open US highways to Mexican truckers, it did previously support Bush's platform for oil drilling in the Arctic National Wildlife Refuge.[179]

The Teamsters Union endorsed Barack Obama for the 2008 Democratic Nomination on February 20, 2008.[180]

[Vermont Lt]

I believe it is in a “fund” (read ‘slush fund’) for failed/failing pension funds. Think “FDIC” for unions.

I could be wrong.

[FlingWingFlyer]

It looks like the union thugs dropped the pension ball. Where da money go? Unions are run by pension fund deadbeats.