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DeMint joins national effort to keep feds from bailing out state pension systems (Told ya!)
Fox News ^ | Sept 30 2012

Posted on 09/30/2012 9:07:30 PM PDT by NoLibZone

Illinois Democratic Gov. Pat Quinn is getting hit with a nationwide backlash over his suggestion that the federal government bail out the state employees’ pension program.

Critics have in the past several days pounced on the suggestion, made last year when Quinn, in announcing the state’s fiscal 2012 budget, said part of Illinois' long-term effort to reduce the estimate $167 billion in under-funded liabilities would be to seek “a federal guarantee of the debt.”

Among those leading the charge is Republican Sen. Jim DeMint. The South Carolina senator has joined the Illinois Policy Institute’s national “No Pension Bailout” campaign -- an effort to stop Congress from attempting to rescue failing state and municipal pension plans.

“Our greatest concern is states will assume they can run their pension systems into bankruptcy and then turn to the federal government for bailout,” DeMint said Thursday.

Read more: http://www.foxnews.com/politics/2012/09/30/demint-joins-national-effort-to-keep-feds-from-bailing-out-state-pension/#ixzz2816FiaVE

(Excerpt) Read more at foxnews.com ...


TOPICS: Constitution/Conservatism; Extended News; News/Current Events
KEYWORDS: bailout; debt; demint; patquinn; pensions; statedebt

1 posted on 09/30/2012 9:07:38 PM PDT by NoLibZone
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To: NoLibZone

Everyone mocked me when I said The DNC in Calif knows full well the FED will bail California out.

The DNC knows if a party wants the electoral votes, the fed must take on whatever debt the DNC decodes to incur in Calif.


2 posted on 09/30/2012 9:11:55 PM PDT by NoLibZone (Every conservative knew the attacks were coming... 3.5 years ago when Obama was elected.)
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To: NoLibZone

They better efing not! Just reading that gives me an eye tic.


3 posted on 09/30/2012 9:14:58 PM PDT by Irenic (The pencil sharpener and Elmer's glue is put away-- we've lost the red wheel barrow)
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To: NoLibZone

Does this mean that Illinois won the race with California to be the first state to come begging to the fed for a bail out.


4 posted on 09/30/2012 9:40:12 PM PDT by Holly_P
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To: NoLibZone

There already exists a federal safety net for pensions. It’s Social Security.


5 posted on 09/30/2012 9:44:26 PM PDT by Brad from Tennessee (A politician can't give you anything he hasn't first stolen from you.)
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To: NoLibZone

Lessee....the FEDS will bail out banks and bankers bonuses BUT not taxpayers pensions!?

That’ll go over like a lead balloon!!!!!


6 posted on 09/30/2012 9:49:38 PM PDT by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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To: NoLibZone
“Our greatest concern is states will assume they can run their pension systems into bankruptcy and then turn to the federal government for bailout,” DeMint said Thursday.

That's it. DON'T MAKE THE FINANCIALLY RESPONSIBLE FOLKS SUFFER BECAUSE OF THE STUPIDITY OF THE IRRESPONSIBLE!

7 posted on 09/30/2012 9:53:47 PM PDT by FreeKeys (What do the 6 fastest job-creating states of 2011 have in common? REPUBLICAN GOVERNORS !)
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To: NoLibZone
The DNC knows if a party wants the electoral votes, the fed must take on whatever debt the DNC decodes to incur in Calif.

Poppycock. California will go Democrat no matter what.

8 posted on 09/30/2012 9:57:03 PM PDT by Carry_Okie (The Slave Party: advancing indenture since 1787.)
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To: NoLibZone

Maybe the unions should quit giving their pension money to left-wing candidates who ruin the economy.


9 posted on 09/30/2012 10:07:27 PM PDT by <1/1,000,000th%
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To: NoLibZone

Maybe since libs don’t discriminate they would go along with the idea of letting anyone join their unions and get on the gravy train even if they never worked and held a card. After all, why should they be shut out?


10 posted on 09/30/2012 10:08:35 PM PDT by Baynative
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To: Brad from Tennessee
There already exists a federal safety net for pensions. It’s Social Security. State employees can't collect social security. :-)
11 posted on 09/30/2012 10:18:08 PM PDT by Rightwing Conspiratr1
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To: Irenic

This is why the Dems are so desperate.

The chances of Romney winning IL and CA range somewhere between none and zero; both of these states are going down in the next four years. Together, they might represent 16% of the US population, but I’d guess that the other 84% of America would be pretty damn mad about a “bailout”.


12 posted on 09/30/2012 10:25:29 PM PDT by The Antiyuppie ("When small men cast long shadows, then it is very late in the day.")
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To: NoLibZone
NO, AND NO MEANS NO !

13 posted on 09/30/2012 10:25:58 PM PDT by timestax (Why not drug tests for the President AND all White Hut staff ? ? ?)
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To: Rightwing Conspiratr1

From Social Security website:

How State And Local Government Employees Are Covered By Social Security And Medicare
SSA Publication No. 05-10051, April 2012

Do you work for an agency of a state or local government? Unlike workers in the private sector, not all state and local employees are covered by Social Security. Some are covered only by their public retirement pension program; some are covered by both public pensions and Social Security; and some are covered by Social Security only.

When it began, the Social Security program did not include any of these employees. Over the years, the law has changed. Most employees have Social Security protection because their states and the Social Security Administration entered into special agreements called “Section 218 agreements.” Others are covered by a federal law passed in July 1991 when Social Security was extended to state and local employees who were not covered by an agreement and were not members of their agency’s public pension system.

Except for workers specifically excluded by law, employees hired after March 31, 1986, also have Medicare protection. States also may obtain Medicare coverage for workers not covered for Social Security who have been continuously employed by the same state or local governmental employer since before April 1, 1986.

http://www.ssa.gov/pubs/10051.html


14 posted on 09/30/2012 10:34:15 PM PDT by Brad from Tennessee (A politician can't give you anything he hasn't first stolen from you.)
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To: Rightwing Conspiratr1
State employees can't collect social security. :-)

They can't. But they do. They are called double dippers. :-(

15 posted on 09/30/2012 10:43:35 PM PDT by Uncle Chip
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To: NoLibZone
I wouldn't have mocked you. You are spot on.
16 posted on 09/30/2012 10:58:40 PM PDT by Nuc 1.1 (Nuc 1 Liberals aren't Patriots. Remember 1789!)
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To: NoLibZone

Oh yeah, I am really looking forward to bailing out the lavish pension and health plans for a bunch of marginally literate Chicago teachers making $80,000 plus per year to work less than 9 months a year.

These same teachers have a job performance so low that 40% of the students drop out of school altogether and 80% the 60% that don’t drop out and stay in school to graduate cannot read or do basic math and are functionally illiterate.


17 posted on 09/30/2012 11:04:36 PM PDT by rdcbn
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To: NoLibZone
The DNC knows if a party wants the electoral votes, the fed must take on whatever debt the DNC decodes to incur in Calif.

Uhh.. Fortunately, that's all irrelevant to the GOP since California is strictly scumbag Democrat territory. Bravo to DeMint for this preemptive strike. Taxpayers who live in responsible, frugal states need to know that there's a target on their backs, and that the rats are coming to steal them blind.

18 posted on 09/30/2012 11:11:26 PM PDT by Lancey Howard
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To: Irenic
Just reading that gives me an eye tic.

Like Chief Inspector Dreyfus?


19 posted on 09/30/2012 11:14:51 PM PDT by Lancey Howard
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To: NoLibZone

Bernanke’s next buy.


20 posted on 10/01/2012 2:18:44 AM PDT by gotribe (WTF?)
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To: NoLibZone

I didn’t mock you, but I don’t necessarily agree with you. California is so far gone that nobody really needs to go begging for votes out there in Federal races. What are they going to do if Barack Obama doesn’t bail them out — vote for a Republican presidential candidate? ROFL.


21 posted on 10/01/2012 2:40:28 AM PDT by Alberta's Child ("If you touch my junk, I'm gonna have you arrested.")
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To: The Antiyuppie

“. . . the other 84% of America would be pretty damn mad about a ‘bailout’.”

Actually, 47% of the 84% probably wouldn’t care as they won’t have to worry about paying.


22 posted on 10/01/2012 4:01:05 AM PDT by Soul of the South
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To: Lancey Howard

Yeah, something like that. The first one I thought of was my mother. When I was a kid and made her REALLY angry, she would constantly run her fingers through her hair and have a tic. Yi yi yi!


23 posted on 10/01/2012 4:56:02 AM PDT by Irenic (The pencil sharpener and Elmer's glue is put away-- we've lost the red wheel barrow)
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