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How bad is the Obama debt machine? By 2020, thanks to Barack, our debt will equal to 90% of the GDP (Gross Domestic Product). Normally, 50% is a Depression--and we ARE in a Depression.
The bad news is the Obama effort, in Chicago style, to pay back those who paid for his trip to the White House? "Some members of Congress seem to like putting taxpayers on the hook for practically unlimited liabilities. The latest Congressional Budget Office forecasts 2020 public debt climbing to 90% of GDP under President Obama's 2011 Budget. This is not enough for Senator Robert Casey, a Pennsylvania Democrat and habitual ally of labor, who now wants Americans to bail out union pension plans underfunded by hundreds of billions of dollars."
He is going to use your tax dollars to prop up the corrupt unions and their mismanaged/corrupted pension plans.
He already gave unions Chrysler and Government (ur, General) Motors--for their cooperation in destroying these companies. Now the union members, forced to pay bribes to work, have union pensions that are worthless--thanks to the Chicago style management of the firms. Jimmie Hoffa would be proud of this generation of union "leaders"
How much is this corruption going to cost you the taxpayer? $165 BILLION.
"Since many multiemployer plans are in financial difficulty, this legislation, if enacted, could dramatically increase the federal deficit, putting even more pressure on the American taxpayer and the economy. Depending on events, it might add billions to government spending-current underfunding levels are estimated at $165 billion-bumping up future deficits."
If you want to see political payoffs, look no further than the Obama White House.
More...
The bad news is the Obama effort, in Chicago style, to pay back those who paid for his trip to the White House? "Some members of Congress seem to like putting taxpayers on the hook for practically unlimited liabilities. The latest Congressional Budget Office forecasts 2020 public debt climbing to 90% of GDP under President Obama's 2011 Budget. This is not enough for Senator Robert Casey, a Pennsylvania Democrat and habitual ally of labor, who now wants Americans to bail out union pension plans underfunded by hundreds of billions of dollars."
He is going to use your tax dollars to prop up the corrupt unions and their mismanaged/corrupted pension plans.
He already gave unions Chrysler and Government (ur, General) Motors--for their cooperation in destroying these companies. Now the union members, forced to pay bribes to work, have union pensions that are worthless--thanks to the Chicago style management of the firms. Jimmie Hoffa would be proud of this generation of union "leaders"
How much is this corruption going to cost you the taxpayer? $165 BILLION.
"Since many multiemployer plans are in financial difficulty, this legislation, if enacted, could dramatically increase the federal deficit, putting even more pressure on the American taxpayer and the economy. Depending on events, it might add billions to government spending-current underfunding levels are estimated at $165 billion-bumping up future deficits."
If you want to see political payoffs, look no further than the Obama White House.
More...