Implode-o-Meter News - Here Come A Lot Of Angry Teamsters: One Of America's Largest Pension Funds Demands A Taxpayer Bailout

Nyhan said the rejection means the [Central States Pension Fund] likely won't be able to offer another proposed fix without getting funding from Congress, either directly or through the Pension Benefit Guaranty Corp. However with the PBGC also on its way to insolvency, and unable to shoulder the additional burden in world of zero and negative rates, that leaves us with... drum roll please... the US taxpayers, aka Congress, footing the bill.
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The full-court press is now on, as now everyone involved is calling on congress to step in. Visitors to CSPF's website this morning were greeed with a banner directing to a rescue plan website... With the Treasury denying the possibility of pension cuts, the ball is now in Congress' court to initiate a bailout. When it does, because it will, the flood gates will be open for the rest of the insolvent funds to come knocking with their hands out, and we can formally welcome the arrival of helicopter money - whether Yellen wants it or not - in the United States

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Here Come A Lot Of Angry Teamsters: One Of America's Largest Pension Funds Demands A Taxpayer Bailout