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By your logic, the workers should get nothing. The "contract" says that the workers get paid by the firm. If there is no firm, there should be no payment.
The "firm", as you put it, is the government, backed by the full faith and credit of the state.
Regardless of what you people are saying, none of these funds are going to benefit the unions. They are going to pay the workers for the work they did.
Yet another thread where the right winger's have no clue what they are talking about.
These are loans designed to get the union pension plans in order over five years rather than the companies just unloading the plans on the Pension Guarantee Trust Corporation at full taxpayer expense.
They are trying to minimize the cost to the taxpayer.....not increase it!.....LOL
Here is an GOP Congressman in a moment of honesty...denouncing the FOX story as nonsense.
[ These threads can go on for days as the right winger are too lazy and ignorant to fact check the B.S. posted. They rely on a liberal to come here and shoot their B.S out of the water.....no worries...they are on to the next "outrage of the day"....LOL]
You don't get it. Why should the taxpayers be on the hook for the unfunded pensions of union workers when private sector employees are not getting anywhere near the same level of benefits?
I'm not blaming the individual employees, I'm blaming the unions and their collective bargaining to grant these lavish benefits at the taxpayers' expense. And I'm sorry, but please show me proof that the employees' contracts state they will receive lower compensation in return for these pension benefits?
Hey, if you like bailouts, by all means throw your support for this piece of s__t legislation. But remember, it's only a matter of time that the pension shortfalls will surmount yet again and they'll be looking for another bailout.
YOU DON'T GET IT!
The Pension's are ALREADY guaranteed by the Pension Guarantee Corporation which IS the FEDERAL Government. This bill is designed to let those companies fix the pensions themselves over five years rather than turning the FULL liability over to the government.
NY is $45B+ in the hole, largely because of public employees' unions. Additionally, the 800+ public/private authorities in NY are in the hole $85B+ (at least that's what the books say).
I'm not trying to " Loan " anymore to people for making bad choices IE unions.
Look at how the gm Loan went.
Thanks but no thanks. They need to solve their problems themselves.
Bernake warned of moral hazard with creating money whenever we needed it and bailing everyone out.
Well Congress is becoming the poster child for moral hazard.
No one is too big to fail..no one according to our government.
And none are held responsible..if it seems they will never recover then they are just nationalized.
The Pension's are ALREADY guaranteed by the Pension Guarantee Corporation which IS the FEDERAL Government. This bill is designed to let those companies fix the pensions themselves over five years rather than turning the FULL liability over to the government.
Are you ever ashamed of your ignorance?
My ignorance? Humorous. The Pension Guarantee Corporation only guarantees pensioners $12,000 should their pension plan fail. Believe me, the taxpayer (via the PGC) would be better off paying out that $12K than this pathetic alternative.
Answer this for me, what happens after the five years when the pensions continue to remain underfunded? What then, Einstein?
Yet another thread where the right winger's have no clue what they are talking about.
These are loans designed to get the union pension plans in order over five years rather than the companies just unloading the plans on the Pension Guarantee Trust Corporation at full taxpayer expense.
They are trying to minimize the cost to the taxpayer.....not increase it!.....LOL
Here is an GOP Congressman in a moment of honesty...denouncing the FOX story as nonsense.
[ These threads can go on for days as the right winger are too lazy and ignorant to fact check the B.S. posted. They rely on a liberal to come here and shoot their B.S out of the water.....no worries...they are on to the next "outrage of the day"....LOL]
There's plenty of private companies that have underfunded pensions as well. If you bail out one..you bail out all.
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