reddnekk sez that’s gonna drive the businesses out of ill noise.
“American” commies really suck. REAL commies don’t care about money. REAL commies care only about their cause, communism. The fraudulent commie wannabes in this country are greedy as hell and care only about how much money they can steal from other people.
Communist Union Think.
There’s only one way out from under the big union thumb.
Reaching up out of the swirling toilet bowl to pull that flush lever one more time.
I guessed it and was right. Greedy POS public sector leeches.
What part of “Corporations do not pay taxes” do these Union people not understand?
Running out of other peoples money?
These people worked expecting a certain pension. Sorry to disappoint them. Unfortunately, everyone has to make compromises in these economic times. The gravy train has to be modified. At least these govt workers have a job and a pension. That is not true for much of America. Suck it up, union thugs.
Wednesday, December 19, 2012
Illinois pensions: a dangerous game of guesswork
By Jonathan Ingram -
In the mid-1990s, Illinois lawmakers were facing a serious problem: the unfunded liability of the states five public pension systems. By 1996, the states unfunded pension liability stood at $20 billion. As a way to combat this growing problem, the state created a repayment schedule, often called the pension ramp. The pension ramp promised to get the systems 90 percent funded by 2045.
According to the repayment schedule, by now the five systems should be nearly 57-percent funded. Instead, the systems are just 39-percent funded and the states pension debt has grown to $95 billion. So what happened?
If you spend any time in Springfield, youll often hear that the pension debt was caused by the state skipping pension payments. But this is what you probably wont hear: taxpayers have actually paid more than the pension ramp projected.
Under the original repayment schedule, the state was to pay $32.1 billion between fiscal years 1996 and 2012. So what really happened? Taxpayers pumped $40.1 billion into the pension systems, or $8 billion more than the original ramp called for....
When this State finally crashes and all those EBT cards stop working I’m going to sit in my backyard, pour three fingers of Bourbon,light a cigar, watch the rosy glow in the sky as the south and west sides of Chicago go up in flames, and I’m going to laugh and laugh and laugh....