I was admittedly frustrated for a bit wondering why the GOP is not addressing economic issues. Even with their idea to cut off federal funding for abortions, they named it the Protect Life Act (See correction) and preached morality. This gave Progressives the opportunity to paint the GOP as puritans again and preaching values. This should have stayed an economic matter. That is a winning argument the Republicans can have anytime. Even Pro-Choice people don’t want to pay for abortions. I was worried the GOP was once again going to start their Bush era family values stuff because they were not serious in addressing our economic issues.
Well to my surprise they are doing something that is meaningful. The Republicans are proposing to prevent federal bailout money to states for paying for pensions. Many of these pensions are ridiculous, especially ate a time when the average American has a non guaranteed 401K. This is not to disparage all States pension funds. Some states are responsible and have no problems. States like New York and California are beholden to public unions and have enabled the fiscal mess they’re in.
Republicans in the U.S. Congress on Wednesday will introduce legislation to get tough on public pensions as worries grow that chronic underfunding will drive states, cities and counties to demand help from the federal government and drag it into a financial mess.
Republican Representatives Paul Ryan, Darrell Issa and Devin Nunes, along with Senators Richard Burr and John Thune, plan to unveil a bill for “enhanced transparency for state and local pensions,” and prohibit the federal government “on any future public pension bailouts.”
[…]Of the longer-term problems in state and local governments’ budgets, none currently looms as large as underfunded pensions for public-sector employees. Estimates for state pension underfunding range from $700 billion to $3 trillion because of disparities in calculating future returns on investments
Read the rest: Republicans Seek Ban on Pension Fund Bailouts
This is the type of legislation the Republicans should be pushing. This is a winning issue, since most Americans have no pensions. Why should Leftist states like Californian and New York get helped for their generous tax payers subsidized pensions? Even if it doesn’t make it past the Senate or Obama vetoes it, this is a winning issue. It gives the GOP a campaign issue to beat the Progressives over the heads with.
The Republicans in Congress should keep pushing as many economic and fiscal bills through as possible. The more Obama vetoes them, the more ammo they have against them. America has been in economic stagnation for 11 years now. The American people are losing faith in the American dream and the future. The GOP was elected to do something about it and they better keep hammering away. If the Republicans don’t focus on economic/fiscal issues, they will lose Economic Conservatives like me in 2012 to an Independent candidate or 3rd party. They should heed the lessons of 1992, piss off Economic Conservatives and you lose an election.Stay focused Republicans. This is your last chance.
Tags: Darrell Issa, Paul Ryan, Pensions
