Pension Bailout Would Only Worsen Underfunding Crisis

By Rachel Greszler | September 13, 2019

A friend of mine recently had the unfortunate experience of dealing with multiple abscessed teeth in her children.

These abscesses occurred because a neglectful dentist had “treated” her kids’ cavities by concealing them with quick, painless fixes instead of drilling down and eliminating the root of the problem.
In the end, the kids had to undergo much more intense, expensive, and painful treatments than if their cavities had been properly treated to begin with.

The Congressional Budget Office has recently found that Congress’ so-called “solution” to a $638 billion multiemployer pension crisis would similarly exacerbate the situation—but without the benefit of Novocain................But even that costly and ineffective assessment only scratches the surface of the pervasive multiemployer pension crisis. That’s because only 139 pension plans would be eligible for taxpayer assistance..

According to the Pension Benefit Guaranty Corporation, there are 1,374 multiemployer, or union, pension plans across the U.S., meaning only about 10% of them would qualify for assistance under this bill............To Read More....

My Take - This is absolutely outrageous.  If they do this it will only allow them to continue down these disgusting practices.  These elected officials at the local and state level bought the unions votes by negotiating contracts that were clearly unsustainable, and now, they want the rest of the nation to pay for it.  And the Congress, including the "Stupid Party", AKA, the Republicans, are on board.  

Well, they made the deal let them live with the consequences.  I hope every municipal, county and state government that sold out their constituents to these unions goes broke, right along with the unions and their members.  They voted for these lunatics, let them all pay the price.