Finally, Real Reason Why Unions Want Card Check: They're Broke After Election Contributions to Democrats

There is so much in this story that I didn't know where to start. I guess we'll start at the beginning because the first sentence really says it all:

'We spent a fortune to elect Barack Obama," declared Andy Stern last month, and the president of the Service Employees International Union wasn't exaggerating. The SEIU and AFL-CIO have been spending so much on politics that they're going deeply into debt.

Why would they spend so much making sure that Democrats are elected that they are basically mortgaging their futures?

They want card check legislation passed. If it want enacted into law, it would free up unions to openly intimidate reluctant workers into signing up with them because there would no longer be a secret ballot. Unions would know exactly who doesn't want to join, and then, they could make them an offer that they couldn't refuse. Once signed up, they would be forced to pay dues to the unions. With more money, they would get more power to influence this country.

How bad is it for the unions?

Alarm is coming even from inside the AFL-CIO -- specifically, from Tom Buffenbarger, president of the International Association of Machinists and Aerospace Workers, who sits on the AFL-CIO's finance committee. Bloomberg News reports that he is circulating a report claiming the AFL-CIO engaged in "creative accounting" to conceal financial difficulties heading into last year's Presidential election. As recently as 2000, the union consortium of 8.5 million members had a $45 million surplus. By June of last year it had $90.6 million in liabilities, or $2.3 million more than its $88.3 million in assets. "If we are not careful, insolvency may be right around the corner," Mr. Buffenbarger warned.

The unions did put their very existence on the line without expecting payback. First, Obama gave the UAW a significant amount of ownership in GM. Now, they want card check to be able expand their rolls and by extension their bank accounts through the dues received from the new coerced signees.

It's Official: Obama's Bailout Success Record Goes To 0-3

This was a long time coming:

General Motors will file for bankruptcy on Monday in federal court in New York City, FOX Business Network has confirmed.

Looks like billions of taxpayer money that both Bush and Obama threw at GM and Chrysler to keep them out of bankruptcy was just an exercise in futility.

Almost $30 B More Given to GM As White House Prepares Them for Bankruptcy

GM moves one step closer to bankruptcy:

The Obama administration is preparing to move General Motors into bankruptcy as early as next week under the terms of a plan that would give GM tens of billions of dollars more in government financing, the Washington Post reported.

Under the GM draft bankruptcy plan, the automaker would receive just under $30 billion in additional federal loans, a source told the Post, which would up the government's overall investment in the company to nearly $45 billion.

GM is one more step toward officially becoming a baliout failure for Obama. The writing has been on the wall for months here, here, and here. Why is Obama determined to throw good money after to fail?

Auto Bailouts Success Rate Looks to Fall 0-for-2

Here's more news from on wasted government money:

For General Motors Corp., the task at hand is so difficult that experts say a Chapter 11 bankruptcy filing is all but inevitable.

To remake itself outside of court, GM must persuade bondholders to swap $27 billion in debt for 10 per cent of its risky stock. On top of that, the automaker must work out deals with its union, announce factory clo­sures, cut brands and force hundreds of dealers out of business — all in three weeks.

“I just don’t see how it’s possible, given all of the pieces,” said Stephen J. Lub­ben, a professor at Seton Hall Uni­versity School of Law who specializes in bankruptcy.

This further confirmation that all the bailouts done by Bush and Obama only delayed the inevitable outcome of bankruptcy.

Chrysler already declared Ch. 11. Now, GM is about to follow it. That's billions more down the drain.

Predictable: Chrysler Files For Ch. 11, Billions in Tax Dollars Wasted

After the Bush and Obama administrations poured billions into a dying company to stave off bankruptcy, Chrysler ended up filing for Ch. 11 protection anyway:

Chrysler will have a "new lease on life" now that the American automaker has decided to file for Chapter 11 bankruptcy, President Obama said Thursday.

Why is the administration acting so optimistic all of a sudden? They were predicting catastrophy, if any of the Big 3 filed for bankruptcy. Now, they act like Chrysler will come out of this like a new born baby.

Where was this optimism months ago when they were declared "too big to fail"? They should have went through Ch. 11 months ago and saved the American people billions of money.

Unfortunately, Obama hasn't wised up, yet. He plans on sending more of our money to Chrysler:

The company will be eligible for up to $8 billion in federal aid to rebuild the ailing automaker, according to senior administration officials. The officials say they expect the bankruptcy to last only 60 days, giving Chrysler time to finalize a partnership with Fiat.