Joe Biden has found another use for American taxpayer dollars.
He’s planning on using America’s credit card to pay off his union cronies.
And now, Biden just announced one shocking taxpayer bailout for unions that left jaws on the floor.
After Big Labor worked overtime to elect Joe Biden in 2020, he’s finally coming through for them in return.
For decades, Democrats and unions have enjoyed a quid pro quo relationship whereby unions work to elect Democrats to Congress, Governor, and the Presidency, in exchange for Democrats turning around and working to funnel taxpayer money into the pockets of union Bosses.
This, despite the fact that roughly 40-45% of all union members identify as conservatives or Republicans.
In many states, they simply do not get a choice over their union backing Democrats every single election cycle, because they are compelled to continue to support their union through force of law.
And with Democrats like Joe Biden enjoying the structural advantages of having millions of Americans being compelled to support him against their own wishes, he’s now working to return the favor to the very union bosses that have exploited their own membership for years.
Fox News reports, “President Joe Biden announced Thursday he will pump $36 billion into a union pension plan to prevent drastic benefit cuts for pensioners, just a week after he signed a railroad labor deal opposed by several union organizations.
The announcement marks the largest federal award for retiree pensions in history and is funded by Biden’s $1.9 trillion American Rescue Plan, according to the White House. The $36 billion will go to the Central States Pension Fund, which is for mostly Teamster union members.”
The taxpayer bailout, which amounts to one of the largest in American history for a pension fund, represents the single greatest favor return Biden has ever offered Big Labor since taking power in Washington.
This action is precisely why the overwhelming majority of unions worked to elect Biden in 2020, because they knew that he would have no problems reaching into the treasury and taking taxpayer’s money to funnel it back towards the unions themselves in order to shore up their own pension funds.
Of course, Biden does not have any plans to do any such thing for Americans who have lost money in the stock market this year, or who are currently underwater in their house after home prices cratered in large parts of the country.
He’s only working to reward those groups and organizations that did something to help get him elected in 2020, and are currently working to re-elect him in 2024.
“The $36 billion amounts to about half of the available federal funds for pension relief under the American Rescue Plan. The pension fund, which covers 350,000 members, was at risk of cuts as high as 60%, but the White House said the fund will now be stable until at least 2051,” adds Fox News.
The announcement came at a time when Biden’s support among unions may have been wavering thanks to his efforts to broker a deal to avert a railroad strike across most of the United States and Canada.