Dems Want to Bail Out Union Pension Funds

After all, they're bought and paid for by the unions.  It's the least they can do:

A Democratic senator is introducing legislation for a bailout of troubled union pension funds. If passed, the bill could put another $165 billion in liabilities on the shoulders of American taxpayers.

The bill, which would put the Pension Benefit Guarantee Corporation behind struggling pensions for union workers, is being introduced by Senator Bob Casey, (D-Pa.), who says it will save jobs and help people.

As FOX Business Network’s Gerri Willis reported Monday, these pensions are in bad shape; as of 2006, well before the market dropped and recession began, only 6% of these funds were doing well.

Although right now taxpayers could possibly be on the hook for $165 billion, the liability could essentially be unlimited because these pensions have to be paid out until the workers die.

It’s hard to say at the moment what the chances are that the bill will pass. A hearing is scheduled Thursday, which will give the public a sense of where political leaders sit on the topic, said Willis.

Just last week President Obama said there would be no more bailouts.

If there was ever a good time for a GOP filibuster this is it. The unions have squandered their funds on all kinds of shady deals (not to mention political contributions) and it's not up to the taxpayers to make they whole.  The SEIU plans to spend $100 million to promote Dem candidates this year.  Why don't they take that money and put it into the failing pensions.