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
Canada Free Press
The Arizona immigration law has really brought to the public attention which side of legal immigration, and the Constitution, our public leaders are on. While some support the law of legal immigration, others have shown contempt for U.S. law and shown their support for lawbreakers and illegal migration in spite of their oath of office to uphold and defend the Constitution.
They attempt to divert attention away from the legal issue and claim that it is all about discrimination and racism. No matter how absurd this is to the vast majority of Americans, they continue to play the race card and make themselves look stupid and foolish. Are we to believe that they don’t know the difference between Hispanic U.S. citizens and illegal aliens? It would seem so.
Article IV, Section 4 of the Constitution states: The United States shall guarantee to every state in this union a republican form of government, and shall protect each of them against invasion; and on application of the legislature, or of the executive (when the legislature cannot be convened) against domestic violence.
Legislation providing Puerto Rico an avenue to statehood picked up steam last week in the U.S. Senate. Last Wednesday, the Senate Committee on Energy and Natural Resources conducted a hearing on H.R. 2499, the Puerto Rican Democracy Act. The House passed this legislation last month 223-169 after adding an amendment to allow the people of Puerto Rico more options on what they want for the future of Puerto Rico—to retain commonwealth status or to opt for statehood, independence or sovereign association with the United States. Senate action on this legislation may come later this year.
One problem with the legislation is that it rigs a vote of the Puerto Rican people in favor of statehood. The House-passed legislation authorizes Puerto Rico to have a vote on whether the people want to retain the present form of political status or a different political status.
Most analysts agree that the people of Puerto Rico have concerns about the current status. If the vote on change passes, then the Puerto Ricans will have another vote and be provided four choices on the future of the Puerto Rican government. Under this complicated scenario, it’s possible that statehood could be ratified in the second vote by a mere plurality.
Another problem with this legislation is that residency requirements are waived to boost participation in these votes. The act allows people born in Puerto Rico who have relocated to the United States to vote in these plebiscites. The final results of these votes may be distorted, and Puerto Ricans who don’t live there given a greater say than they deserve. This legislation eliminates the traditional voting requirement that people vote where they have a residence and where they intend to reside.
When Alaska and Hawaii voted for statehood, the populations voted overwhelmingly in favor of full statehood, yet the people of Puerto Rico have three times rejected the idea of statehood. Conservatives support the idea of statehood for Puerto Rico, but only if the people who actually live there want it, want it with a supermajority, and the American people consent to add a new state.
(A-O Newswire) — On Saturday, President Obama showed his true NWO colors even though he avoided the popular catch phrase “New WORLD Order” by replacing “world” with “International.” Both words are synonymous with each other.
During a speech at West Point, Obama pledged to assist in shaping a new “international order” to help secuire America’s safety and emphasized his faith in global institutions. He envisions the US taking a prominent role in shaping a new world with Democratic global values.
© 2010 WorldNetDaily
Is the U.S. Selective Service System now blocking access to President Barack Obama’s online registration records?
Members of the public searching the federal database for the commander in chief’s registration are suddenly finding new difficulty, possibly due to the startling revelation of Obama’s alleged use of a Connecticut-based Social Security Number.
The Selective Service System, or SSS, collects names of Americans for use by the Department of Defense in the event of a national emergency. On its website, it says it provides the nation “with a structure and a system of guidelines which will provide the most prompt, efficient, and equitable draft possible, if the country should need it.”