As Union Pensions Go Bankrupt, Union Bosses Spend Heavily On Political Activities

Lawmakers in Washington and candidates measuring Capitol Hill drapes will have to make a choice this election cycle: do they support bailing out union bosses and a reckless agenda that has even bankrupted the pension plans of their workers or do they support fairness in the workplace for both employees and employers?

It shouldn’t be a tough choice.  Choosing Big Labor over struggling American workers and small businesses means letting union bosses push our nation over the fiscal cliff.  From violating workers’ private information to micro-unions and ambush elections, union bosses are invading the workplace – and taking the economy down with it.

Dumping more salt on an open wound, the Financial Times reports that a “… hole in the pension plans of U.S. labor unions now stands at $369 billion.”  Reports Dan McCrum and Ajay Makan in FT:

This raises the prospect of higher pension contributions for employers and deteriorating industrial relations.

Multi-employer pension schemes, managed by trade unions on behalf of members working for many different employers, are now just 52 percent funded, the bank calculates with most of the burden to close this gap likely to fall on small and midsize companies.

Yet, while Big Labor leaves the rest of us carrying their big debt, union bosses are about to spend nearly half a billion dollars in campaign canvassing and ads to help President Obama’s reelection effort.   Sam Hananel in the Associated Press reports:

Unions have long been known as one of the most reliable supporters of Democratic candidates and their efforts have increased with every election as the threats to organized labor grow.

Our elected officials have some serious thinking to do over the next several months as the election nears.  Let’s hope they make the right decision.  That’s why WFI launched state coalitions in Missouri and Montana last week and will soon launch new efforts in Virginia and West Virginia. It is critical that candidates for federal office vow to protect the workplace and promote pro-growth policies. Accompanying the introduction of these state-based organizations are detailed questionnaires (i.e. MT and MO) that are being provided to candidates in an effort to secure their stances on important workplace fairness issues.

Candidates in these states will soon have an opportunity to tell us where they stand on these issues.