Fox, Neil Cavuto and other right-wing extremists are telling the truth, but only if lies are the new truth, Fox's "$165 billion" "union bailout" is neither
Cavuto, Tatge falsely claim PBGC would take over obligations of existing employers. On his Fox Business program, Cavuto said that the bill "calls for the Pension Guaranty Benefit Corporation to take over the pension obligations of employers who have either underfunded their plans or who simply withdrawn too much money from those plans." On the same show, Forbes magazine's Mark Tatge said, "So the companies were supposed to pay premiums into this -- there's no tax dollars in this fund -- and the companies for many years have not paid in, or they have paid in at such a low rate that it does not cover the liabilities that are out there. ... You should send businesses a bill for this. Businesses should be billed."Fox, Cavuto and the usual crowd of right-wing members of the smiley-faced fascism movement seem to hate American workers and assume everyone that works for a living - factory assemblers, nurses, firemen, auto-workers, electricians and carpenters are lazy morons that don't deserve pensions, but they do believe corporate executives should make millions while contributing very little value to the economy.
[ ]...Purpose of PBGC is to take over insured pension plans when employers go bankrupt. The Pension Benefit Guaranty Corporation (PBGC) is a federal corporation that insures private pension plans and takes over insured plans that go into default, such as when a company goes bankrupt. PBGC is not funded by general tax revenues; instead, it collects insurance premiums from employers that sponsor insured pension plans, earns money from investments and receives funds from pension plans it takes over. For instance, when appliance maker Whirlpool Corp. closed a plant, PBGC took over the pension plan for workers at the plant and negotiated an $11.7 million payment from Whirlpool to help fund the plan.
[ ]...Bill does not "bail out" unions -- it separates out employees of defunct firms and guarantees part of their benefits. Casey's bill would allow pension funds to "partition" former employees of defunct firms from those of active employers within the fund, helping to preserve solvency for the fund and preventing employers paying into the fund from having to pay for the benefits of workers they never employed. PGBC would then separately guarantee benefits for those former employees of bankrupt companies.
Palin suggests Obama oil ties impede spill cleanup - The White House responds by questioning her information about oil politics and policy.
Gibbs said, "My suggestion to Sarah Palin would be to get slightly more informed as to what's going on in and around oil drilling in this country."Palin has no incentive to stop lying or distorting facts. Palin has decided to live her life without honor and reportedly it is paying millions a year.
The oil and gas industry donated $2.4 million to Palin's running mate, Republican John McCain, in the 2008 election cycle, and nearly $900,000 to Obama, according to the Center for Responsive Politics' opensecrets.org website.
