An appalling, no-strings-attached bailout of a private union pension

The Pension Benefit Guaranty Corporation announced Thursday that Central States Teamsters’ private union pension will receive $35.8 billion in taxpayers’ money. Behind this bailout is a tragic history of reckless actions by self-seeking unions and muddied political favoritism that allowed the problem to fester for decades unchecked.

What the Biden administration applauds as a “protection” of hard-earned retirement benefits is instead an appalling, no-strings-attached bailout that picks winners and losers. Instead of fixing the problem, it will make the problem worse.