Tell Congress To Take
Public sector labor unions are hiding $3.4 TRILLION in pension plan deficits through accounting gimmicks and they expect YOU to bail them out when those plans go broke.
In its zeal to pay off the labor unions the federal government could in fact raid social security, veterans benefits, private retirement accounts and any other funding source they can get their hands on so this threat must be addressed.
Send FaxGrams to the House Ways & Means Committee today and tell them to support and pass The Public Employee Pension Transparency Act (HR 4822) which would ban federal bailouts of labor union pension plans!
Rep. Devin Nunes (R-CA) says, "Many cities and states are critically underfunding their pension programs and hiding the fiscal holes with accounting tricks." (Source)
Nunes adds: "When these pension funds go insolvent, they will create problems so disastrous that the fund officials assume the federal government will have to bail them out."
In other words the public sector labor unions, along with state and local governments, KNOW that this disaster is looming and they expect YOU to bear the burden of bailing them out.
In Detroit when the city went broke, city officials raided the public sector union pension fund and paid BONUSES to retired union workers. Then the city borrowed money to refill the pension plan... and declared bankruptcy!
The public sector unions ran away with the money and the federal government bailed the city out to the tune of hundreds of millions of dollars - even though they never called it a bailout.
Now imagine if that happens with the $3.4 trillion in state pension funds at the same time, in states like Nevada, California, New York, Illinois and others.
The federal government could even start raiding personal retirement accounts to shore up the financial crash that would ensue.
HR 4822 exempts the federal government from liability for state and local pension plans (meaning no bailouts)! It also requires transparency which would force state and local governments to fund the plans properly now, rather than waiting for YOU to bail them out!
Send your FaxGrams to Congress right now and demand that they support and pass HR 4822!
Isaiah 10:1-3 states, "Woe to those who enact evil statutes And to those who constantly record unjust decisions, So as to deprive the needy of justice And rob the poor of My people of their rights, So that widows may be their spoil And that they may plunder the orphans. Now what will you do in the day of punishment, And in the devastation which will
These evil statutes passed by state and local governments will rob everyday Americans so that public sector labor union employees and union bosses can enjoy lavish retirements.
If we do not act to correct this looming fiscal crisis now it will impact every single America and you must understand... if this bubble pops your hard-earned money and savings will NOT be safe when the federal government attempts to bail the unions out.
This is why you must speak out in support of the Public Employee Pension Transparency Act NOW! Send your FaxGrams to Congress immediately!
In addition, please share this message on your social media pages with your family members, friends and acquaintances:
Pray For US needs your financial support for our ministry operations in defense of America. If you are able, please give a contribution in addition to the cost of sending your FaxGrams today.
Charles Benninghoff, Founder
Text of your LetterEdit Text
City, State Zip
1011 Longworth House Office Building
Washington, D.C. 20515
Dear Chairman Brady:
A new study from Stanford University shows that public sector labor unions across the country are facing a $3.4 trillion funding shortfall. Public sector unions are promising "the moon" in terms of retirement benefits for their members when they know full well that those promises cannot be kept at current funding levels. A $3.4 trillion bubble represents a tremendous danger to the entire American economy.
What happens if all of those funds go broke at the same time? These public sector fund managers are expecting the federal government to bail them out. If that were to happen, where would you get the money? Would the federal government raid social security funds, veterans' benefits, or personal retirement accounts of non-government workers? The taxpayers were robbed when General Motors was nationalized and we will be robbed again if you do not address this funding crisis now. The managers of these labor union pension plans KNOW that they are underfunded and their plan, so far, to address this problem is to steal the money from the taxpayers.
You should support and pass HR 4822, the Public Employee Pension Transparency Act. This act will require state and local governments to be more transparent with their labor union pension funds so that the public can see how badly these devices are under-funded. The Stanford study indicates that financial accounting gimmicks are being used to hide the true size of the deficit. HR 4822 will prohibit this from happening so that state and local governments will have to either renegotiate contracts OR start increasing payments into these funds. The bill also makes it clear that the American taxpayers will not be on the hook to pay for these fantasy labor union retirements which are not available to anyone in the private sector.
The financial disaster that is looming because of the public sector labor union deficits is the biggest threat to the American economy today. I demand that you address this threat by supporting and passing the Public Employee Pension Transparency Act! No bailouts for public sector labor unions!
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