Compromised Biden Giving Union $36 Billion To Bailout Mismanaged Pensions

Capitalism is collapsing exponentially in the United States following 20 years of Marxist influence in a growing number of educational and corporate institutions.

Prior to George W. Bush, businesses would succeed or fail based on the quality of their products or services and their ability to adapt to ever-changing business environments.

But following the 9/11 terrorist attacks on the Twin Towers, many Americans who were looking for security thus allowed the government to strip away our civil liberties with the Patriot Act and to move the nation towards Marxism which includes public/private partnerships.

This change in mindset allowed Bush, the 43rd president of the United States, to step in when Wall Street banks significantly mismanaged their operations. Bush insisted the banks were too big to fail, so he directed the government to bail them out, preventing them from closing, at taxpayers’ expense.

In 2008, the subprime mortgage crisis and high oil prices caused new auto sales to plummet forcing automakers to offer heavy incentives to help clear excess inventory.

Former President Obama in response set up a task force in early March 2009.  Within a few months, in late May 2009, following the recommendations of the Task Force, the U.S. government had lent approximately $25 billion in total to the companies.

Now in 2022, President Joe Biden just announced a $36 billion bailout for the Central States Pension Fund, one of the nation’s biggest multi-employer plans.

The 46th President was joined by International Brotherhood of Teamsters President Sean O’Brien and AFL-CIO President Liz Shuler, as well as Labor Secretary Marty Walsh.

See also  Hollywood's 'The Apprentice': Controversial Trump Biopic With Rape Scene Sparks Legal Threats

The 80-year-old, pay-for-play US Chief Executive Officer touted the help for union workers and retirees following his failed attempts to resolve the rail workers’ dispute with the rail companies’ ownership.

The money would “prevent drastic cuts to workers’ hard-earned pension benefits, cuts that have been scheduled to occur within the next few years,” Biden said at the White House on Thursday. “It’s not going to happen — the cuts are not going to occur.”

Biden said the aid would help 350,000 union workers and retirees, who would have faced benefit cuts estimated at 60% over the next few years.


PureTalk – Save Big Money On Your Cell Phone Bill  (Use Promo”FLSfree” to get one free month) 

Continue Reading
You may also like...

Conservative independent talk show host and owner of https://FinishTheRace. USMC Veteran fighting daily to preserve Faith - Family - Country values in the United States of America.


More in Biden

Subscribe to our newsletter!

Awesome Deals On Products (Promo code "FTR")

Download My Podcasts Below

Eric Thompson Show Podcast