One of the countless ways Democrats want to exploit coronavirus hysteria and the economic havoc it has caused is to force fiscally responsible states to bail out states run by liberals, which have run up massive pension debt. The very notion is corrupt, as a story at the Washington Free Beacon makes clear:
Sen. Gary Peters has repeatedly agitated for a federal bailout for his home state, indirectly seeking a rescue for the pension system that pays the millionaire Michigan Democrat five figures annually.
The pension is in addition to his $174,000 annual salary for being a US senator. His estimated net worth is about $4.4 million.
Financial disclosures reveal that Peters collects more than $50,000 a year from the Michigan state pension fund, a benefit accrued thanks to his eight years in the state legislature. Peters has given no sign he will forgo these payments even as nearly 900,000 Michiganders have lost their jobs in the last two months.
These jobs were lost primarily due to the draconian not to mention unnecessary lockdown imposed by his fellow Democrat, Gauleiter Gretchen.
Dems in the House are on the same page as Peters:
[T]he House Democratic caucus’s most recent stimulus proposal includes $500 billion for state and local governments. Those funds would come in addition to the money previous stimulus bills already allocated to states. But whereas previous stimulus funds were earmarked for coronavirus-related expenses only, the new money Democrats want would be given to states to spend on their general revenue needs.
This measure is necessary, Democrats argue, because states are seeing major shortfalls in traditional sources of revenue amid the economic downturn. But the money would also cover shortfalls in underfunded entitlement programs, particularly many states’ hulking pension systems.
The idea is to force taxpayers in states like Texas and Florida to finance the irresponsibly extravagant pension schemes in states like New York, Illinois, and Michigan — in effect enslaving them.
Short of abolishing the Electoral College (which is also on the Democrat agenda), it would be hard to imagine a better way to heat up the Cold Civil War into a genuine war between states.
On a tip from R F.
The post Senator Gary Peters Wants You to Bail Out His Pension appeared first on Moonbattery.
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