Senators face off over bill to help retired coal miners

Discussion in 'Off-Topic Discussions' started by Abner, Jul 3, 2016.

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  1. Abner

    Abner Well-Known Member

    FYI,

    Senators face off over bill to help retired coal miners

    "Since being laid off in 2008, amid the global economic meltdown and a contraction in the coal industry, Dilly has received about $300 a month in pension benefits.

    Now, Dilly’s retirement money is in jeopardy. The health and pension funds that Dilly and more than 100,000 other coal miners across the United States rely on are threatened with financial insolvency."

    "Ohio’s two U.S. senators — Democrat Sherrod Brown and Republican Rob Portman — are among those pushing for a legislative fix that supporters say would protect the coal miners’ hard-earned benefits, without costing taxpayers anything. The bill has broad bipartisan support, with Democrats and Republicans from Pennsylvania, Indiana, and West Virginia leading an aggressive push to pass the measure before the end of the year"

    "But the bill has at least one powerful foe in Congress: Senate Majority Leader Mitch McConnell, R-Ky., who portrays himself as a staunch defender of his home-state’s coal industry.

    “McConnell … has opposed this because he doesn’t like the United Mine Workers Union,” said Brown. “We could win this on a straight up or down vote,” the Ohio Democrat added, but McConnell has blocked such a move."


    Dumb ass McConnell!
     
  2. AV8R

    AV8R Active Member

    This is of particular interest to me since I grew up in a tiny coal mining community in the Appalachian Mountains. My father was a coal miner, as were both of my grandparents, and several of my uncles. I no longer live in that area, but I do keep up with the affairs of my old town and the people who live there. I can assure you they are hurting really bad. The situation is beyond awful.

    There are almost no jobs in the area now. The state built a super-max prison in the county a few years ago that keeps some families afloat, but the pay is terrible ($28k a year starting salary for corrections officers). A few call centers have set up shop there, but again, the pay is atrocious.

    It isn't easy for those people to pick up and move out of the area, either. It takes money to move, money that few people have. And since far more people are moving out of the area than are moving in, it's really hard to sell your home there. It's a very challenging housing market for sellers.

    Yeah, things are bad there. They need help.
     
  3. Abner

    Abner Well-Known Member


    Wow! That's a terrible situation for those that are stuck there. And like you said, it costs money to move away. Not cheap. All this bill does is assure that these coal miners pensions remain solvent in to the future, that's all. No cost to the taxpayer. I just can't Believe McConnell would block this. Incredible. It just shows how much he cares. My union pension has such protections, just as my wife's past union job (she is in private corporate now) will be protected when she is old enough to collect her pension. It makes sense.

    Let's hope for the best. Maybe someone can get through to McConnell's imbecilic brain! Come on dude!
     
  4. SteveFoerster

    SteveFoerster Resident Gadfly Staff Member

    How does it do that?
     
  5. Abner

    Abner Well-Known Member

    Careful oversight of investments, just like public worker pensions, Calpers, for example. Actually, in the private sector, Albertson's pensions have careful oversight to ensure maximum bang for the pensioners buck. Good systems.
     
    Last edited by a moderator: Jul 3, 2016
  6. Abner

    Abner Well-Known Member

  7. SteveFoerster

    SteveFoerster Resident Gadfly Staff Member

  8. Abner

    Abner Well-Known Member

    I think this bill and the bipartisan politicians just want to ensure that these pensions remain as feasible as possible, given market conditions. There are some companies/corporations that either don't care, or just let investments like pension funds go to hell in a hand basket. Why? I am not sure. But it does happen. I think this bill is a good thing.
     
  9. SteveFoerster

    SteveFoerster Resident Gadfly Staff Member

    You didn't answer the question.
     
  10. Abner

    Abner Well-Known Member

    I am a bit confused to be honest, and I am not sure how to answer your question. You do bring up a good question. I will once again not answer the question, and will repeat that Calpers has funded pensions since 1932 very well, and they have done so in political settings (government).

    Maybe, now that you bring it up, a bill is not needed. But what can it harm? What am I missing here? Just asking.
     

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