The Republican Party’s willingness to back the bailouts of American government employees is something of a national pastime, but it’s not just the Republicans that are engaging in this kind of behavior.
According to data compiled by the Brennan Center for Justice, the American public, by a 2-to-1 margin, believes that American government workers should be able to get back pay when they retire.
The GOP has embraced this notion.
In a recent op-ed by former Rep. Rick Larsen (R-SD), the former chairman of the House Appropriations Committee and the author of the “Bailout Bill” (2009), Larsen argues that if the Republican Party is serious about getting people back to work, it needs to stop supporting the bailout of American public employees.
Larsen writes that: The bailouts have been a terrible failure.
They’ve caused an explosion of debt, caused a sharp drop in employment, and forced the government to pay its bills in large part because of the enormous financial pressures that government employees face when they leave.
The most recent bailouts to date were the $500 billion in 2009 and 2010, and the $5.5 trillion in 2013.
Now, in the first six months of this year, the total debt is nearly $19 trillion, a new record for a six-month period.
This is not just a Republican problem.
In fact, Republicans have taken a huge step back from helping the public and the economy recover from the financial crisis.
We have a government with no resources, with no money to pay bills and no interest on the debt.
If we want to restore the trust that the American people and their elected representatives have placed in our government, we need to get to work restoring the trust.
What’s going on?
When President Obama and Congress approved the bailout for American government employee pensions, it was clear that the Republican-led Congress had been very much in favor of this bailout.
The American public believed that the bail-outs were a bad idea and that they should be terminated.
And that’s where the Republican leadership comes in.
During his first year in office, President Obama signed into law the Bail Out Bill, a bill that essentially provided $5 billion in emergency money to American government agencies that have already received the bailout money.
While the bill did provide $5 million in bailout money for the agencies that received the money, it provided only $5 in bailout funding for agencies that were already in trouble.
As a result, the B.C. government has already paid $11 billion in debt for pensions.
So why the change in strategy?
According the Brennan center, the Republican leaders decided to end the bail out because the American electorate was beginning to think that the bailout was a bad thing.
That’s why the BCAJ analysis concludes that: