The CEO of the largest union in America (the SEIU), Andy Stern, was appointed to the President’s deficit reduction commission. As if that were not strange enough, we learn today that his union is $85 million in debt … and is … laying off workers.
Update: The state of California’s pension is now $500 billion underfunded. My estimate of the total amount of unfunded pensions nationwide is well over $1 trillion. Who do you think will fund those retirees?