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By Rachel Greszler ~

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.

This bailout for unions makes taxpayers, future retirees, and many union workers and retirees worse off. Because the bailout doesn’t do a single thing to fix the problems, it incentivizes pension plans to worsen their funding so that they might qualify for a future bailout. (Photo illustration: Sam Edwards/Getty Images)

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.

Background on Union Pension Plans

Across the United States, 10.8 million workers and retirees belong…