And it's the principal reason why the steel tariff issue is much more complicated than simply "free trade = no tariffs", which is the ideal.

If we don't raise the steel tariffs, and a few big domestic steel producers, like LTV Corp, sink further down and eventually go bankrupt, then the gov't agency, and thus American workers, retirees and taxpayers, are stuck with the billions of dollars of debt for the "insured" pension benefits that the bankrupt company can no longer pay. Plus increased federal Medicare payments due to the collapse of the steel company's medical plan as well.

Granted, the steel companies and the unions bear a lot of the responsibiity for getting in such poor shape. Still, foreign producers are "dumping" steell unfairly in the USA, and regardless of who's at fault, it's the American workers, retirees, and taxpayers who'll be stuck with the hefty bill.