United Airlines has successfully bailed out of the promises made to workers regarding pensions. The federal Pension Benefit Guaranty Corporation has agreed to take over the United Airlines pension program that owes $10 billion dollars to United Airlines employees.
For $10 billion dollars this nation could have 5 Amtrak systems. This is based on the annual subsidy requested by AMTRAK, which consistently totals well under $2 billion.
This $10 billion dollar bailout is actually just the tip of the iceberg made of red ink the airline industry is hemorrhaging. Other direct subsidies include untaxed fuel, free airports, and the granddaddy of money pits, the defense industry.
How can anyone trust any of the well-paid ‘experts’ that have brought this country to the brink? Remember, these people are for the most part lawyers. Those who are not skillful legal experts have cozy relationships with big industry and have joined the upper 20% by way of business ventures of some type. My point is that none of them are serving altruistically. It is ALL about the money, just as it always has been.