TIME TO CONSIDER 2023 AND BEYOND
WILL ELECTION RIGGING IN THE COURTS BE AFFIRMED BY THE U.S. SUPREME COURT?

HOW IS THIS NOT THE LARGEST QUID PRO QUO IN THE HISTORY OF AMERICA?

It’s not a secret – the labor unions own the Democrat Party, providing campaign funds and voter support overwhelmingly to the Democrats in return for sweetheart legislation and government contracts that are sometimes associated with organized crime, waste, fraud, and abuse.

Including union make-work projects that are almost always delivered late, over budget, and use inferior materials and techniques that ensure ongoing maintenance costs using union labor.

BIDENQPQ

How is this not the nation’s largest quid pro quo?

WHLOGO-MOD

Remarks by President Biden on Building a Stronger Economy for Union Workers and Retirees

So, with the American Rescue Plan, we included the Butch Lewis Act — named after an Army veteran and a true champion of union workers — to protect the pensions you all worked so damn hard for, the pensions you sacrificed to secure.

And today, my administration is announcing the single largest approval of funds from the Butch Lewis Act: $36 billion to cover — (applause) — to cover over 1,000 employers, 350,000 union workers and retirees.

These union workers and retirees are facing cuts up to 60 percent of their benefits, starting in the next few years, if we hadn’t acted. That means some folks would stand to lose $10,000 each and every year of their retirement. That’s how much they’d lose each and every year of their retirement — the money they earned.

[OCS: Tell me about our senior citizens who worked their entire life believing Social Security was a pension plan. Tell me about those senior citizens living on a fixed income who thought saving money was the proper thing to do – and watched financial institutions cut their savings interest rates when the government gave them essentially zero-interest funds to invest?]

Instead, thanks to today’s announcement, tens of thousands of union retirees and workers in states like Ohio, Michigan, Texas, Minnesota, Wisconsin, Missouri can go to bed tonight knowing their pension they worked so damn hard for is going to be there for them when they need it.

So I want to thank everyone at the Pension Benefit Guaranty Corporation who work so hard to make this program work, including the director who’s here today. Thanks, Gordon, for being here. I really do appreciate your work and being here. <The Speech>


FACT SHEET: President Biden Announces Historic Relief to Protect Hard-Earned Pensions of Hundreds of Thousands of Union Workers and Retirees

The American Rescue Plan’s Special Financial Assistance program is providing financial relief to struggling multiemployer pension plans and ensuring that millions of families facing benefit cuts will receive the full benefits they earned.

Multiemployer plans are created through agreements between employers and a union, with plans typically involving multiple employers in a single industry or related industries. A typical worker whose multiemployer plan became insolvent would see their expected pension benefits slashed substantially. Before the American Rescue Plan, workers and retirees participating in more than 200 multiemployer pension plans faced the prospect of not receiving the full benefits they earned and need to support them and their families in retirement.

These plans are insured by a federal agency – the Pension Benefit Guaranty Corporation (PBGC) – which provides partial protection of the benefits of approximately 11.2 million workers and retirees in approximately 1,400 private-sector multiemployer, union-connected plans. Prior to the America Rescue Plan, the PBGC’s multiemployer pension insurance program was projected to become insolvent in 2026. Under the Special Financial Assistance program, financially struggling multiemployer pension plans can apply to the PBGC for assistance.

The Central States Pension Fund estimates that it will now be able to pay full benefits to workers and retirees through 2051. Today’s announcement is estimated to benefit thousands of workers and retirees in individual states across the US, including:

  • Michigan – 40,000 workers and retirees
  • Ohio – 40,000 workers and retirees
  • Missouri – 28,000 workers and retirees
  • Illinois – 25,000 workers and retirees
  • Texas – 22,000 workers and retirees
  • Wisconsin – 22,000 workers and retirees
  • Indiana – 20,000 workers and retirees
  • Minnesota –19,000 workers and retirees
  • Florida – 19,000 workers and retirees
  • Tennessee – 14,000 workers and retirees

<The Fact Sheet>

A new political emergency arises to suck money from the money allocated for the pandemic…

President Biden is using money in his $1.9 trillion COVID-19 relief law to save the fund, and It’s no secret that billions of COVID-19 relief funds have been stolen or misused for purposes not authorized by the American people through their corrupt representatives in Congress.

Explain why the Central States Pension Fund, which has $7.4 billion in assets according to its most recent quarterly financial report, continues to spend more than $2 billion per year more than it is taking in from contributions – without re-adjusting some of the more excessive pay-outs to “the rich” which were computed under corrupt work rules? What is the limit for individual pension accounts, like those placed on FDIC-insured accounts?

Who is listening to Senator Chuck Grassley (R-IA) when he called the bailout a “blank check with no measures to hold mismanaged plans accountable?”

Bottom line…

Nobody is bailing out my retirement IRA and 401(k) investments as the stock market plunges and inflation remains a hidden tax on all products and services. In the name of fairness, let union members deal with their union’s leadership who authorize union-directed or politically-directed investments that cannot possibly sustain growing pension obligations, many of which have been plus-upped under corrupted work rules and wink-wink agreements that violate good actuarial practices.

Why must I pay the bill for unions that support progressive communist causes?

Why must I watch the Biden crime family and the corrupt Democrats squander my money to buy votes and political power?

We are being screwed – and nobody seems to give a tinker’s dam.

-- Steve


“Nullius in verba.”-- take nobody's word for it!

“Beware of false knowledge; it is more dangerous than ignorance.”-- George Bernard Shaw

“Progressive, liberal, Socialist, Marxist, Democratic Socialist -- they are all COMMUNISTS.”

“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS

"The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius

“A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell

“Fere libenter homines id quod volunt credunt." (The people gladly believe what they wish to.) ~Julius Caesar

“Describing the problem is quite different from knowing the solution. Except in politics." ~ OCS

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