Post by Ozarks Tom on Jul 25, 2022 12:31:09 GMT
For decades the unions have been collecting dues from their members, promising those dues would fund their retirements - all lies. Those unions, particularly government employee unions like police/fire have been promising way more than anyone with a calculator would deem possible. But, since unions historically donate to democrats, the democrat controlled Congress and President Bedpan sneaked through a bailout, a bandage really, making those crooked unions at least partially whole.
Too late to do forensic audits on the unions, the money is gone, and most likely the union bosses too with their bonuses.
Oh well, it's not like the government really had the money to begin with. When it finally declares insolvency the union members will be in the same soup as Social Security recipients.
Unnoticed by most taxpayers and touted as good news was the fact we the taxpayers of America have stepped up to the plate and bailed out hundreds of failing pensions. Much of this took place without the average citizen even knowing it occurred. Buried deep in the American Rescue Plan signed into law by President Biden in March 2021 was a provision mandating the government to bail out ailing multiemployer pension plans.
The American Rescue Plan Act of 2021 was the $1.9 trillion economic stimulus package proposed by President Joe Biden to speed up the United States' recovery from COVID-19. The huge bill was passed with little time for debate or even to be read, all under the idea congress needed to take action to address the economic and health effects of the pandemic and the ongoing recession. While how this provision to assist troubled pensions has been addressed did not get a great deal of air time it may prove to be far more costly than predicted.
The American Rescue Plan Act of 2021 was the $1.9 trillion economic stimulus package proposed by President Joe Biden to speed up the United States' recovery from COVID-19. The huge bill was passed with little time for debate or even to be read, all under the idea congress needed to take action to address the economic and health effects of the pandemic and the ongoing recession. While how this provision to assist troubled pensions has been addressed did not get a great deal of air time it may prove to be far more costly than predicted.
