Democrats and labor unions have a long history of working together, with labor unions delivering piles of election cash (sucked from member dues) and union member votes in exchange for dubious, pro-union legislation such as requiring union membership to work in a state and looking the other way when unions violate laws or requirements that other entities must follow. Union pension funds have often been a reliable source for financing slush funds and other scams that enriched the union leadership and politicians, but were rarely monitored to ensure union members and their retirement funds were being protected.
The unions generally have also promised much more than they could deliver, and like all ponzi schemes, the promised money finally exceeds incoming revenue. And now 407,000 private sector workers are about to lose most of their pensions due to false promises and phony financial projections.
One of the nation’s largest pension funds will be broke by 2025, page 2:
Really!!! What is a unions job??? To fight for better pay and better work place.what have they done??? Sold your asses out voting for democrats that have gave your jobs away to people from other countries, and you idiots paid for it.
Next time the banks fail there will be a bail in not a bail out.
FIGHT BACK !!!! CUT THEM OFF AT YOUR POCKET BOOK NOW
You are right Dennis. I, along with MANY people who retired in 2008 lost up to 40% of their 401k retirement. No taxpayers paid me for my loss but it wasn’t their fault. It was the fault of the so called over site govt.
You were lucky John. Many of us loss a lot from our 401k in 2008. And many still can’t retire b/c of it.
Unions are a scam the downfall of america Trust no one especially a Union with your retirement money. All unions should be banned in America. The union leaders are in it for themselves and to hell with workers, I bet they are sitting pretty those leaders.
WHAT??? Obama you are the dumbest I think I have ever seen.
Wake the Flock Up
I just left the union … I’m too republican to be in one! All they did for me was take my money… So glad to have my money back where it belongs … In MY pocket!
What’s wrong? It’s free market.