Illinois is the poster child of unfunded pensions - Obama's State of the Union

Discussion in 'Economy' started by KissMy, May 21, 2010.

  1. KissMy
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    KissMy Free Breast Exam

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    US state pensions becoming federal issue
    At current rates retired state workers will get paid more annually than employed state workers. This is worse than the GM Union problem. I smell more bail-outs. Buy gold on the dip.
     
  2. KissMy
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    KissMy Free Breast Exam

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    GOP wins House seat in Obama's home district
     
  3. Mr. H.
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    Mr. H. Diamond Member

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    The Republicans in the Illinois legislature have no mercy for Quinn or his cronies. Cut spending, cut waste, cut fraud. That's the way to balance the state's budget.

    And who is suffering the most? Children. School children. Districts are cutting spending to the bone.

    Quinn thinks he can borrow us out of problems. He's sadly mistaken.
     
  4. KissMy
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    I also say cut those outrageous taxpayer backed pension funds.
     
  5. chanel
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    chanel Silver Member

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    Didn't Enron execs go to jail for the same thing? Prosecute the thieves.
     
  6. Mr. H.
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    Ain't dat da troot. Unlikely that w/ever happen tho.

    Here's a clip from the Illlinois Chamber of Commerce bulletin:

    Republicans remain very unlikely to support the bulk of whatever plan the Democrats eventually agree to. However, the possibility remains they may consider helping pass the Governor's proposal to bond the FY 11 pension contributions. Bonding may be seen as a better approach than the alternative, delaying making the pension payments until next January, a move that would cost the system billions of dollars over the long term.

    Egads.
     
  7. KissMy
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    KissMy Free Breast Exam

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    Oh how did we survive here in the USA from 1776 to 1910 when the Us government started to levey taxes on us citizens?

    Our founding fathers warned us about this crap. Big government is just organized crime. Just look to Chicago. Their sales tax is 10% & they have huge problems. Pay to play for its citizens. Now all the citizens in the entire country must pay to live. Soon we will have to pay for the air we breathe with carbon taxes. The politician's make up complicated laws (ie 2000 page health care law) with loop-holes while in office & then go to the private sector & exploit the crap out of us for the rest of their days.

    Government did a great job with Fannie & Freddie, affirmative action lending. They closely guarded our Social Security trust fund. They never pay off their buddies with Medicare or defense spending. The corruption in this country is at crisis levels.

    Look at the owners whose names appeared on the the President’s automotive task force Chrysler dealer closing list, and of those who contributed to political campaigns. Most had donated almost exclusively to GOP candidates. The evidence points to a corrupt decision-making process. Is anyone surprised? It’s the Chicago way.

    Miami Florida is the Medicare rip-off capital yet they manage to get a gator-aid carve-out in the healthcare bill. I bet you the Medicare rip-off artist that do not get caught contribute to the proper campaigns. I bet all the big medical device & pharma companies who employ ex-politicians are allowed to over-charge the crap out of Medicare for their products.
     
  8. Greenbeard
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    Greenbeard Gold Member

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    As a former Chicagoan, I can safely say I much prefer the sales taxes where I live now. However, the high sales taxes in the city (10.25%, although I think they're about to be reduced) are due to the rest of the state and county milking the cash cow--i.e. the largest urban area in the state. The actual components of that tax are: 6.25% state tax, 1.25% city tax, 1.75% county tax and 1% regional transportation authority tax. So the cut Chicago itself takes from the Chicago sales tax is only 1.25%.
     

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