Democrats Seek To Bailout Their Union Buddies

by raiding the US Treasury.

EXCERPT:  “Sen. Sherrod Brown, D-Ohio, plans to introduce legislation that would allow struggling multiemployer pension funds to borrow from the U.S. Treasury to remain solvent.

The bill, co-sponsored by Rep. Tim Ryan, D-Ohio, could be introduced later this week or shortly after. It would create a new office within the Treasury Department called the Pension Rehabilitation Administration. The funds would come from the sale of Treasury-issued bonds to financial institutions. The pension funds could borrow for 30 years at low interest rates. One restriction for borrowers is they could not make risky investments.

The bill would also fund a program at the Pension Benefit Guaranty Corp. to finance any remaining needs of pension plans borrowing from the new program. “Any money needed for the PBGC would be a tiny fraction of what it would otherwise be on the hook for if Congress fails to act,” said an analysis by Mr. Brown’s office.

Mr. Brown told a group of retired Teamsters in Ohio on Monday that the bill will be out shortly.”

In a perfect world Democrats would either be behind bars in prison or in a zoo, akin to the monkey cage. Something for normal people to laugh at 

So the Democrats have made promise after promise to the money laundering pals in the Unions, ESPECIALLY the Teamsters! On top of that they create yet ANOTHER U.S. Gruberment office to staff with drones who’ll suck down a paycheck and vote Democrat to keep that gravytrain a rolling! Then they’ll loot other people’s money, taken from taxpaying Americans by the threat of force, and doled out to Unions who have literally raped American industry for decades and have literally destroyed virtually every industry that their crooked hands had a grasp on!

There can be no doubt that these sorts of problems give Democrats a major hard-on. Why they can lie, cheat, and steal elections for decades, m,aking stupid promises to their money-laundering pals in the Unions, and then when the shit is ready to hit the fan, why, simply pass a bill in Congress and loot the Treasury, just like LBJ and the Democrats did in 1968 to the Social security Trust Fund!

Sherrod Brown is one the stupidest asshats in the U.S. Congress and that is saying something when the competition is morons like Pelosi, Waters, Hank “Guam” Johnson, the Black Caucus, and a host of other mind-scrambled dingbats.  

You can bet your ass that Democrats and their RINO enablers are eyeballing everyone’s 401Ks, IRAs, etc, because that is the last amount of cash that is untapped. It is only a matter of time until the idiots in Congress screw us over once again. Hopefully this time they don’t make it out alive.

Image result for sherrod brown
Sherrod Brown
Every bit as stupid as he looks.

 

http://www.zerohedge.com/news/2017-11-13/pension-ponzi-bailout-democrats-sponsor-us-treasury-bailout-scheme

About GunnyG

Retired US Marine and pissed-off American. Tired of the bullshit from inside the Beltway and determined to change it, peacefully or otherwise. A Constitution-loving American who believes that the US is #1 and should be!
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12 Responses to Democrats Seek To Bailout Their Union Buddies

  1. I.R. Wayright says:

    What is next. a raid on our 401K monies?
    Wouldn’t the greedy little bastards love to get their hands on that pile of cash?

  2. Whitetop says:

    I.R. don’t think they haven’t been looking at our pensions plans. I’m damn sick and tired of these corrupt bastards who think any $ in the economy is theirs to steal; especially if it buys them more votes. It is hard to tell who is the most corrupt the unions or the legislators who finance their corruption. It is time people start protecting what is theirs and vote out anyone who supports union bailouts or the bailout of pension plans of private companies.

  3. SafeSpace says:

    And every friggin city, state, and county with unfunded municipal employee pension liabilities will be doing exactly the same thing soon. The national total shortfall is said to be around a half-trillion dollars. Yep, Wayright, our 401k plans are a likely target to pay retired city trash collectors their annual $90K pensions.

  4. Navyvet says:

    Is a “risky investment” when the union crooks er I mean leadership, slides the money into their own pockets???
    Who is stuck when they default on the loan????? Which they will!!!!

    • GunnyG says:

      Brother, the average salary for a union boss is over 300K a year! They’ll take that money, launder it, and return it to the Dems, as usual.

  5. bigbadblade says:

    This makes me so angry I could eat railroad rails and spit out spikes. Hope there are enough non-union men wilth balls to stop them.

  6. Hardnox says:

    Ask Obama where the TRILLION dollar stimulus monies went. It was supposed to go to “roads & bridges” but was looted to bail out what this asholes advocates. Flock them!

  7. Shar says:

    High taxed blue states like NY will have trouble supporting the bennies. A lot of pensioners leave the state for warmer weather and less taxes. The state is still left holding the bag. Now they are a sanctuary city as well. The good times keep rolling.
    Past time to move.

  8. Bullright says:

    Oh is this how they plan to try to woo-back blue collar workers and voters?
    “they could not make risky investments” well, that should end it right there..

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