Biden to announce massive bailout; $36 billion taxpayer dollars to save union pension plan – IOTW Report

Biden to announce massive bailout; $36 billion taxpayer dollars to save union pension plan

BPR: Eager to spend more money, President Joe Biden is reportedly preparing to announce yet another bailout for a troubled multi-employer pension plan.

“President Joe Biden on Thursday is announcing the infusion of nearly $36 billion to shore up a financially troubled union pension plan, preventing severe cuts to the retirement incomes of more than 350,000 Teamster workers and retirees across the United States,” CNBC reported.

“Many union retirement plans have been under financial pressure because of underfunding and other issues. Without the federal assistance, Teamster members could have seen their benefits reduced by an average of 60% starting within a couple of years,” according to CNBC.

The specific fund in question, the Central States Pension Fund, reportedly applied for $35.1 billion in relief back in August. more


20 Comments on Biden to announce massive bailout; $36 billion taxpayer dollars to save union pension plan

  1. “financial pressure because of underfunding and other issues”, other issues, also called theft and embezzlement.

  2. Democrats could return all the campaign contributions they’ve received from unions over the years and cover 36 billion easily. Also the reason they’re being bailed out as they’ll return a good portion back to the Democrat party.

  3. No entity should be allowed to donate money to candidates or measures unless their retirement system is 100% funded. This is money laundering. The thieves donate to the communists, the communists steal our tax money and give it to the thieves.

  4. Links disabled?
    No explanations?
    Are there pictures we are not supposed to see or what?

    I mean 2 days ago Aunty Maxine was blowing kisses at Sam Bankman-Fried and arm-in-arm and today just a few little hour ago or so, I saw Aunty Max on TV calling for Bankers Scalp and saying sternly that that guy (do not recall if she said he she it or they) better be there in a couple days when they talk money talk.

    Can you do Money talk over zoomed TV?
    Under Oath?

    I’m an interested citizen monkey thats been on the dark side of the moon and want to know. Exactly.

    Are you keeping a record?

    FlotSams and Jettisons

    Look for the hidden chute

  5. The days of the useful union are over. Many union members retire at near full pay, driving inflation even further.
    I know a retired union operator and his retirement is $6500 a month, $78,000 per year.
    Add that cost to every construction job x # retired workers.

  6. Back in the day, 80’s and 90’s, the Teamster Union corrupt morons, fully supported, encouraged, sending our manufacturing off shore. How does that even remotely represent the best interest of their members. And now here we are, financing their pensions because member did not have the balls to stand up to their union.

  7. The Union bosses and politicians stole the original pensions – so what’s to stop them from stealing this?

    mortem tyrannis
    izlamo delenda est …

  8. Union pension bale out? Student debt forgiven? All paid by you the tax payers so the democrats can buy votes. And the media says nothing. In November the stupid electorate failed to correct this. We are a nation of morons and crocks.


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