The Wall Street Journal ran a story detailing how the SEIU is reaping political dividends from record spending to help elect President Barack Obama. The SEIU said it spent $85 million during campaign season, which has resulted in appointments of SEIU officials to top administration posts and support for union-backed policies such as EFCA and healthcare.
But all that spending eroded much of the SEIU’s finances. The article notes that the union took out $25 million in loans last year and saw its net assets fall in half from the previous year. It also points out that the SEIU fired some of its Washington, D.C-based staff.
But there are some additional wrinkles that the Journal does not point out. Despite mentioning that the SEIU took loans from Bank of America, the Journal neglects to mention the union’s hypocrisy for borrowing money from the bank that it has publicly protested and condemned. And the Journal made no mention of fired SEIU staffers protesting in front of its headquarters.