Public sector unions pay Dem bills

 Pelosi, Schumer slam Trump executive orders, call for GOP to come back to negotiating table

The unions invested a lot of money and have more to invest.  It buys a pension bailout and Nancy and Schumer are under pressure. 

This is piling on. When discussing a bailout deal during the last crash they could not escape their Overton window and told us the unions were well funded. Now they are stuck sneaking the bailout in the back door

Biden says Trump executive order is 'a reckless war on Social Security'

It mostly represents the failure of the two party system. They have limited Overton window.  The move also represents another form of taxation without representation as the resulting missing taxes are taken from the banking sector by the Fed tax.  As that tax builds we get pressure for partial default and a New Fed contract. It also pressures the small state governors with IQs less than room temperature.

The pension problem Dems have:

The pension fund, valued at $410 billion as of Wednesday, earned 4.7% on its investments for the fiscal year that ended June 30, falling short of a 7% target as the coronavirus introduced new volatility into international markets. On average, public pension funds returned just 3.2% for the same period, the Wall Street Journal reported. It was the second year in a row in which CalPERS fell short of its target.

Overall we have a 3% tax deficit equivalent to a city sales tax.  But the tax opportunities are stuffed, except maybe get more from the rich.   So the unions want to increase the Fed tax on banking, but retail banking is about shut anyway. If we are going to use the Fed to tax then we may as well default properly, that is, do it better than Nixon and Roosevelt. We have improved the tools considerably, this is not rocket science.