Politicians are quick to help their rich friends. What about you? (Opinion)
Do you remember when the politicians in Washington bailed out the rich banks?
Remember when the top executives paid themselves millions in bonuses after that bailout?
Before they gave away your money and came asking for more, the sneaky lot in DC made it harder for average working-class people to declare bankruptcy. That's right, Democrats and Republicans siding with the credit card companies over you.
It's a common theme in Washington and in Trenton. Get elected and side with the special interests and the big money that fuels campaigns and protects the power and wealth of the elite. I'm sick of it. What about the working-class first-responders who are too often the first place government elitists want to cut to balance budgets?
Now, as more than a million members of the Teamsters Union are facing serious cuts to their pensions, politicians are faced with a choice. Help them by offering an opportunity for bonds to be issued and money loaned to failing multi-employer pension funds.
It seems to me that the legislation as written is only attracting Democratic senators because, as with many hyper-partisan issues, the goal is not to succeed, but instead attack political opponents. How about we start electing politicians whose sole focus is to save jobs, and in this case protect the livelihood of truckers who spent their lives delivering goods and services across America?
This bill will go nowhere if it's designed to create more bureaucracy and ore debt. That said, the pols in DC and in Trenton are the fist ones to spend our money and put future generations into debt all to line the pockets of their friends.
I'd like to see the president weigh in on this and get the GOP-led Senate to work out a compromise to make sure that hard-working Teamsters and other workers who are already facing major cuts in benefits and are counting on those pensions to put food on their tables can be made whole.
In New Jersey, we need to focus on a better way to fund retirements. Roll out a 403(B) plan for government workers and phase out the antiquated pension system. That's a long-term solution. The next governor needs to implement a change immediately. Until then, we have an obligation to make sure working-class Americans are made whole.