The New York Times wrote: "The $86-billion is a taxpayer bailout for about 185 union pension plans that are so close to collapse that without the rescue, more than a million retired truck drivers, retail clerks, builders and others could be forced to forgo retirement income." And that "The trend predated the pandemic and is a result of fading unions, serial bankruptcies and the misplaced hope that investment income would foot most of the bill so that employers and workers wouldn't have to." -GEG
Where pension debt is a looming danger to taxpayers, via Texas Public Policy Foundation
The recent $1.9 trillion COVID-19 stimulus bill approved by the House is no exception to this "bailout culture."