TRNN: Michael Hudson : Pensions of Union Workers Cut in Federal Budget

[jakeXT]

Transcript:

JESSICA DESVARIEUX, TRNN PRODUCER: Welcome to The Real News Network. I’m Jessica Desvarieux in Baltimore. And welcome to this edition of the Hudson report.

Now joining us is the man behind the report, Michael Hudson. Michael is a distinguished research professor of economics at the University of Missouri-Kansas City. And his newest book, The Bubble and Beyond, has a new edition, with an index and two new chapters. And, of course, he’s a regular contributor to The Real News.

Thanks for being with us, Michael.

MICHAEL HUDSON, PROF. ECONOMICS, UMKC: Thank you very much, Jessica. It’s good to be back.

DESVARIEUX: So, Michael, today we’re going to be talking about the federal budget. What has really stood out to you in that budget?

HUDSON: Well, there’s something very radical happened that people haven’t been talking about very much. Normally a budget is supposed to decide what gets funded and what doesn’t get funded, and it’s simply a decision of what to cut back. A budget is not supposed to rewrite the law.

http://michael-hudson.com/2015/01/playing-the-pension-funds/

[Neon Gods]

1. Why would Democrats support this?

Did we get something big in return? It just doesn't make sense for any Democrat to support this. We need to contact every Democrat in Congress and ask them if they support or oppose letting union pension funds be cut if they can't pay the pensions.