THE COMING SEIU TSUNAMI

From the desk of Stephen Cabot: According to an article in The Wall Street Journal (www.wsj.com), the Service Employees International Union, which presently has 2 million members, intends to launch a major offensive against corporate America that will “peak in the summer of 2012.”

The Union intends to recruit new members to its ranks in 10 to 15 major American cities, including Cleveland, Milwaukee, Miami, and Detroit. Its recruitment efforts will take place at political primary events, town hall meetings, and other gatherings. No doubt, its focus will be at Democratic Party events, for the SEIU is a stalwart contributor to Democratic candidates. In the last presidential election, the SEIU spent $70 million! It is reportedly prepared to spend tens of millions of dollars on its aggressive new recruitment efforts.

Many of its members are public sector workers who will receive inordinately large pensions upon their retirement, which will further contribute to the near bankruptcy of states. The Union, obviously, hopes to defeat any legislative measures that will curtail the size of those tax-payer funded pensions. Hence, its forthcoming efforts to beef up its membership rolls and deliver the maximum number of votes to its Democratic allies in 2012.

It is essential that both legislators and Corporate America prepare effective survival strategies to defeat the deleterious efforts of the SEIU. If not, public service pensions will indeed bankrupt one state after another leading to financial devastation throughout the land.

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TAX PAYERS TO BE BURDENED BY UNION PENSIONS

From the desk of Stephen Cabot: According to an editorial in the Wall Street Journal (www.wsj.com), Senator Bob Casey of Pennsylvania is rounding up support for a misnamed bill: “Create Jobs and Save Benefits Act.” It is, in effect, a bailout for under-funded union pensions. If a union pension is under water, its liabilities would be transferred to the Pension Benefit Guaranty Corporation, which (you guessed it) is funded by tax payers. The Act would transfer tens of billions of dollars of retiree liabilities.

According to the Journal’s editorial, the number of under-funded union pensions has “soared to 640!”

The numbers have been growing for years; and as the economy falters, the number of under-funded union pensions will rapidly accelerate, adding significantly to the country’s economic woes.

This is just another example of how various Democratic politicians are in the business of doing organized labor’s bidding. And while they express concern for the welfare of tax payers, they continue to pass legislation that benefits their real constituency (i.e. labor unions), while putting all Americans under an increasingly heavy tax burden.

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