Senate panel approves pension rescue for coal miners
The movement of money from our pockets to the union union worker's pockets.
I don't know where the feds think they are going to get the other $1trillion plus in money necessary to begin to stanch this bloody flow. A few coal miners, easy. But nearly every public pension, and a large number of private pensions are incapable of paying what they owe. The game is going to be to reward the people the politicians like the most from our pockets before we get wise to the game.
Time to get wise. Time to cut the coal miners off. Time for real pension reforms, and a complete shift to defined contribution plans first. Then demand the companies, the public entities, and the UNIONS all go into bankruptcy before the public begins to shell out $$$. They all did this with eyes open. They earned this opportunity.
We also need to require the pensioners sue the unions for breach of fiduciary duty based on the fact the unions knew what the public entities, and businesses were doing but did not act to ensure the courts intervened.
Time to clear the decks, and prepare for a new evolution in government, that will be the ultimate result of this rolling disaster.