Democratics Want Union Bailout: $165 Billion

The Democrats can't spend enough money fast enough, and the outrageous idea of taxpayers having to pay for their retirement after they have mismanaged their pensions, is sickening at best, and criminal at worst.

Think of it. The Democrats' special-interest groups who are overpaid and pressure, threaten and mock those who aren't part of unions, are now wanting the rest of us who are in fact responsible with our money to bail those bums out after even above-market wages and benefits are wasted by them, as they can't hang on to their pension money.

Don't get the idea this is because of the recession, because it isn't, as they pensions were in trouble in 2006, before the impact of the housing bubble and banking problems.

Senator Bob Casey, (D-Pa.), has introduced legislation which would cost the rest of us a minimum of $165 billion, and because of life expectancy, would be far beyond that. Think of the bankrupt social security fund to see where this is going to go.

What really needs to happen is to have an investigation of these pensions and their union overlords to see who's draining them, as it sounds fishy when the unions are suddenly begging for more money, and that's after the hideous bailouts of the union automakers who were priced out of market by their outrageous wages and benefits, which we are still paying for, and which they borrowed more taxpayer money to pay off.

The hearing is set for Thursday, and our representatives had better toe the line and reject this outright. Obama also better learn to say the word "no" to these beggars, who are making more than the average American, who is now being called upon to bail them out. If this doesn't get your angry and ready to rid Washington of the Democrats and their endless willingness to spend money on their constituents, nothing will.

And even if you're a Democrat, you should be outraged that they're already talking about spending more money, which has already brought an enormous amount of destruction to the country, which has yet to be experienced when the banks start lending, businesses borrow, and the price of everything goes up.

Peter Schiff on Origins of Economic Meltdown

Economic expert Peter Schiff gives a devastating critique of the origin and causes of the global ecnomic collapse in this extraordinary TV interview.

He largely takes aim at the the medicine being offered for the disease: more government spending, and calls for the need to amputate the gangrene originating with the illusion larger, socialistic government will be the answer to the dilemna.

Rather, Schiff exposes the government as the perpetrator of the global disaster, not the solution.

As Schiff rightly illuminates, the government has no wealth, all they can do is confiscate the wealth of others and redistribute it through their taxation and redistribution program.

So the announcement of Obama that he's going to come to the rescue with the misguided public works expenditures, he's not really creating wealth or jobs, he's simply taking it and redistributing it to less valuable areas.

In other words, he's going to take wealth that the private sector creates, and redistribute it to government-created programs. The consequences will be the destruction of real employment opportunities, according to Schiff, which will cut into our standard of living.

Schiff's solution to the problem?

Let recession run its course

More discipline by Americans in spending and consumption

Need more savings and less borrowing

More production and less consumption


Schiff on government's role:

Less government spending

Sound monetary policy

Lower taxes

Get rid of military/industrial complex

Slash government programs

Higher, not lower interest rates


View video below if you want one of the best video presentations of the truth behind the economic crisis. It's brilliant!