8/25/2009

Explaining why unions want government health care passed

Here is an interesting claim from IBD.

Labor: If there's any question as to why union toughs turned up at recent health care town halls and got violent, consider what they were gooning for: a $10 billion bailout for their mismanaged pensions — at our expense.

Buried on page 65 of the 1,017 pages of HR 3200, the House's health care reform bill, and in a Senate bill as well, stands a $10 billion entitlement to keep pensions for unions like United Auto Workers as shiny and gold-plated as the day Detroit executives signed off on them.
Steelworkers, municipal employees, teachers and other union retirees will benefit from what the bills call "Reinsurance Programs for Retirees." The $10 billion cash infusion is intended to refinance Voluntary Employee Beneficiary Associations (VEBA) insurance to continue coverage for unions' early retirees in restructurings.
It's nothing but another bailout for union-bankrupted industries that can't sustain their contracts. . . .

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2 Comments:

Blogger 1 said...

Well as usual, the folk at IBD aren't lying...

Note the following regarding HR 3200:

SEC. 164. REINSURANCE PROGRAM FOR RETIREES. - page 65

FUNDING.—There are hereby appropriated to the Trust Fund, out of any moneys in the Treasury not otherwise appropriated, an amount requested by the Secretary as necessary to carry out this section, except that the total of all such amounts requested shall not exceed $10,000,000,000. - page 70

8/26/2009 5:01 AM  
Blogger Martin G. Schalz said...

Government payback for the Union Vote is what this amounts to.

8/26/2009 12:17 PM  

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