ICYMI: Obama Resurrects Union Slush Fund ‘Investing’

February 13, 2013 06:33


Obama is probably the best propagandist in U.S. history. His ‘investments’ really mean stealing more money from future generations to fund his Democrat campaign and leftist agenda supporting unions:

I wrote about this when Obama first proposed it in 2010: Obama announces $50+ billion 2012 campaign funding push

 

Recent paybacks to unions by Obama include overturning a 76 year old rule to make it easier to unionize airlines and more importantly a new executive order requiring all government contracts be to union companies. Both of these union payoffs were done without needing or even asking for congressional approval.

usACTIONnews.com editorial

Recent paybacks to unions by Obama include overturning a 76 year old rule to make it easier to unionize airlines and more importantly a new executive order requiring all government contracts be to union companies. Both of these union payoffs were done without needing or even asking for congressional approval.

Close to half of Obama’s first $820 billion stimulus bill went ‘to entities that sponsor or employ or both members of the Service Employees International Union, federal, state, and municipal employee unions, or other Democrat-controlled unions‘ according to Ben Stein in an article last year in The American Spectator about the stimulus. More recently, congress passed the $30 billion ‘teacher bailout’ bill which funneled approximately $16 billion to union teacher and other public employee union jobs.

According to RiShawn Biddle in a Capital Research Center report:

‘The NEA [teachers union] took in an estimated $569 million that it spent on local, state and national political campaigns during the 2007-2008 election cycle, according to the National Institute on Money in State Politics. This made the NEA the nation’s single-biggest campaign contributor for the 2009-2010 election period, the NEA has raised another $15 million to date – double the amount raised at the same time two years ago. This fund raising prowess is why Harvard University education scholar Paul Peterson declares that the NEA is “in a position to tell state legislatures what to do.”’

In a recent local election SEIU (Service Employees International Union) spent $500,000 and may end up as high as a $1 million. Why so much? To prevent cuts to exorbitant union wages and benefits that are bankrupting the county.

According to an article by Kevin Bogardus and Sean J. Miller at The Hill, just two unions plan to spend close to $100 million to save Democrat jobs in the 2010 elections. Even though unions have already gotten taxpayer bailouts of benefits ($20 BILLION in GM fiasco alone), preferential treatment in federally funded work, the overturning of 76 year rules on unionization, ownership in Chrysler and GM to the detriment of shareholders, creditors and taxpayers, and the lions share of stimulus money directed to public work projects which will have to be union, they will be expecting more like taxpayer funding of a trillion dollars of under funded union pension liabilities.

Kevin Bogardus and Sean J. Miller say:

‘The American Federation of State, County and Municipal Employees (AFSCME) plans to spend in excess of $50 million during the 2010 campaign, part of which will fund “a massive incumbent protection program,” according to Gerry McEntee, president of the union.’

And:

‘The Service Employees International Union (SEIU) plans to spend $44 million in total on its 2010 election program. The union spent $85 million on its 2008 campaign, according to union officials.’

An August 25 article in the Wall Street Journal by Melanie Trottman points out that the AFL-CIO is adding over $44 million to the kitty for Dems:

‘Mr. Trumka says the AFL-CIO will spend more than the $44 million it did in 2006 but hasn’t determined a specific amount.’

That is a total of $138 million from just those three unions for just 2010 and its all for Democrats.

And its not just money. Unions put boots on the ground for campaigns. Melanie Trottman at WSJ notes:

‘To counter any possible apathy, Mr. Trumka said the unions planned to put more campaign workers in the field than in 2006 and 2008, knocking on doors of union households and handing out leaflets at work sites. The federation also will coordinate phone banks and mailings, tracking progress through weekly polls.

In the last midterm elections, union households represented 23% of the electorate, according to exit poll data.’

In a recent editorial titled ‘The best government money can buy -top 20 public sector union paid politicians‘, we listed the top twenty recipients of union campaign money from public sector unions, industrial unions and trade unions. They are all Democrats.

Now it brings focus to Obama’s new old plan to stimulate or create or save jobs. $50 billion as a start for jobs that won’t begin to materialize until late next year about the time the 2012 campaign really gets started. The guy is brilliant.  Roads, runways and railroads are all union jobs which will funnel campaign money to the Democrats and particularly to Obama just in time for the 2012 election cycle. And he wants there to be a permanent ‘infrastructure bank’ as his and the Democrats slush fund to keep the unions working at the expense of the private sector. They will probably seek allowance for this ‘bank’ to fund without congressional approval just like the finance bill did with the takeover of banks and other ‘financial’ institutions.

All the while he can angrily chide the Republicans (or anyone else who disagrees) as blocking his magical job creation.

In reality, even if we are stupid enough to fall for this, the make work jobs will only prolong the recession or turn it into a full blown depression as it robs the private sector of capital and increases our already unsustainable debt.

Don’t be fooled again.

-Editor

 

And later in August 2011 the Wall Street Journal voiced similar concerns about Obama’s union slush fund in an article called “Bank of Political Works.” We posted an excerpt and titled it New Dem Slush Fund Proposed – “Infrastructure Bank”:

[The] “bank must take into account …. “responsible employment practices, use of renewable energy, reduction in carbon emissions, poverty and inequality reduction, training for low-income workers and public health benefits.”” – WSJ

[Editor's note: We wrote about this last year when Obama first brought up the idea in "Obama announces $50+ billion 2012 campaign funding push.”:

From The Wall Street Journal

EXCERPTS:

Here’s a novel idea: Have Congress create a “bank” that could borrow huge sums with only a small federal outlay and would be independent of any political interference. If you believe in this miracle, you probably thought Fannie Mae was a private company that wouldn’t cost taxpayers a dime.

For the low, low price of $30 billion or so, President Obama says Congress can conjure hundreds of billions in new “grants and loans” to rebuild “roads, bridges, and ports and broadband lines and smart grids.”

This is the Fannie Mae model applied to public works. The new bank would be a government-sponsored enterprise, or GSE, whether or not anyone admits it. The bank would have an implicit subsidy for its debt because it is backed by the government. And the debt it issued would be “off-budget,” which means it wouldn’t show up in annual outlays.

Such an outfit will inevitably be politicized, as similar examples have been all over the world. Japan’s postal bank has been used for decades to finance public works. Japan’s roads and bridges are grand but its economy has grown little in 20 years. Agribanks, regional development banks, Brazil’s BNDES national bank have all become vehicles for the political allocation of credit.

Ms. DeLauro’s bill admits as much, stating that the bank must take into account the “economic, environmental, social benefits and costs” of the projects seeking financial assistance. Among the considerations: responsible employment practices, use of renewable energy, reduction in carbon emissions, poverty and inequality reduction, training for low-income workers and public health benefits.

FULL ARTICLE

 

So when you hear Obama and the Democrats say 'invest' what they really mean is spend more of your money, build bigger government, create more union dues which will then be used in Democrat campaigns and to push left wing agendas.

Here is what Obama says about debt out of the other side of his mouth:

“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.” – Barack Obama

“Rather than fight the same tired battles that have dominated Washington for decades, its time to try something new. Let’s invest in our people without leaving them a mountain of debt.” – President Barack Obama on his Office of Management and Budget website.

 

Amy Payne and Alyssa Badolato at Heritage Foundation point out some Obama's previous State of the Union lies:

“I pledged to cut the deficit in half by the end of my first term in office.”

During his first State of the Union, newly inaugurated President Obama vowed to cut the deficit in half by the end of his first term. Instead, Obama has averaged deficits nearly three times that of his predecessor.

For those who were concerned with President George W. Bush’s $4 trillion national debt, this pledge may have seemed like the “hope and change” the American people voted for in 2008. However, the reality of America’s additional debt over the past four years under the Obama Administration is staggering—almost $6 trillion in four years, on track to triple the amount Bush accumulated over his eight years as President. Now that Obama is heading into his second term, we’ve seen quite a change from the Barack Obama who thought $4 trillion in debt was “irresponsible” and “unpatriotic.”

“Over the next two years, this [stimulus] plan will save or create 3.5 million jobs.”

The President promised great things from the stimulus plan, but as Heritage’s J.D. Foster has said, we have to look at his record. He may have promised 3.5 million new jobs, but he’s 7.7 million jobs in the hole instead.

 

“Blessed are the young for they shall inherit the national debt.” – Herbert Hoover. The problem is most young people don’t have a clue what they are in for. In 2008 and 2012 most young votes went to Obama. What did they get for it? A few years older,  much deeper in debt, continued high unemployment, 40% higher health insurance premiums and lost opportunities.

Obama’s “fundamental transformation of America” is to make the government a giant wealth transfer machine. He has nearly reached that goal while bankrupting the nation. One in seven Americans are now on food stamps. One hundred million Americans get some form of welfare.

This is Obama’s Utopian dream for America coming to fruition. The Cloward-Piven strategy in full bloom. Create a dependent class of slaves who will perpetuate their own enslavement by continually electing those who promise more handouts until we are all equally poor and miserable.

~ Michael Whipple, Editor

 

Also please consider:

Has Obama Already Bankrupted America?

The best government money can buy -top 20 public sector union paid politicians

Debt quotes

Obama Has Stolen $5.3 Trillion From Our Children In Order To Make Himself Look Good

Obama’s Achievement – Gov’t Has Become Gigantic Wealth-Transfer Machine

Politicians as Economic Arsonists

Too Much Debt: Our Biggest Economic Problem

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Hop on board the public employee union special -unions bankrupting cities & states -will US pick up the tab?

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Obama caught lying about ACORN involvement -where is the investigation?

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California is America’s Greece

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Dumb and Dumber? What Are College Kids Learning About Our Country?

Big Union money secretly influencing state elections in US

Government Unions Win, You Lose

 

 



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