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And the banks should not have gotten any bailouts all those years ago either for the same reasons this is bad. The bankers actually opened the door for this.
Slight difference....the banks got loans that they paid back. The US actually made money from the interest.
Teamsters is a union for private sector workers, or its not govt workers union.
Taxpayers should not be bailing them out.
If they misallocate themselves its their problem.
Otherwise, why cant each and everyone of us get a bailout?
I do not not disagree. From what I understand the teamsters had opportunities to bring their plan back to solvency and obviously did not use the tools at their disposal.
Other unions with multi-employer pensions have had their people still working pay more into the funds. They also raised the age that you can start collecting. Along with requiring more total hours worked to collect the full amount.
It had to be over 10 years ago that I was told that the teamsters had 4.5 people collecting a pension for every one person paying into the fund.
Wait until he tries to bail out the under funded public workers funds.
Makes that 36 billion look like chump change.
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