unions, the gift that keeps on giving... or taking as the case may be
Posted on 04/07/2012 7:22:29 AM PDT by Oldeconomybuyer
A new report forces the question: How could Illinois pols do this to taxpayers?
The state of Illinois admits to $83 billion in pension underfunding, a staggering weight on today's and tomorrow's taxpayers. Add to that the as yet uncalculated billions in unfunded pension obligations for city, county and other local governments.
Beyond that $83 billion in unfunded pensions, state government alone faces an unfunded liability of more than $54 billion in retiree health liabilities over the next 30 years.
We've noted before that many states similarly fund unaffordably generous retiree health benefits on a pay-as-you-go basis. But those states don't rank worst in the nation in their preparedness to meet pension obligations. Nor do most of those states expect to finish this fiscal year with a budget deficit and a malingering $9 billion in unpaid bills. As a result, then, most states are better prepared to meet these retiree health costs than is the insolvent state of Illinois.
How could Illinois pols do this to taxpayers? And come November, will voters finally exact some consequences?
(Excerpt) Read more at chicagotribune.com ...
I highly doubt it will ever be paid. The libs are good about making promises they can’t keep, breaking them, and blaming it on the GOP.
Yes they can do it again. And yes Illinois voters will stand still for it.
Not to worry.
Just call the 1-800-BAILOUT number in DC. /s
Let me answer the question at the bottom.
“No” No consequences only rhetoric and more promises.
unions, the gift that keeps on giving... or taking as the case may be
But if you move to another state....then you don’t owe it any more!
the libs also are good at getting we the people, the federal taxpayers, to pay their state’s bills
the labor unions will not be denied
The mob needs the money.
They have elections to steal!
Illinois residents you get what you tolerate and vote for. You have religiously voted for dems for years in Chicago and downstate. You voted for Blago TWICE and have the nerve of mocking people right of center.
This economic disaster known as Illinois has been brewing for YEARS. Yet, you continue placing the same people in charge that have created this problem; over spending and over promising everything to everyone. During this time, you were completely silent and accepting of the growing problem. Look the over way, stick your head in the sand, go to a Cubs game. Deficits? Notaproblem!! Yet, when someone comes along and actually tries to have government live within its means, you will weep and rent your clothes as if it is beyond intolerable.
Look at the states to the north and east of you. They have seen the abyss you are heading towards and are doing the complete opposite of what you have done. Their economic situations are much different than yours.
Are you going to wise up and actually put the best people in charge that can actually lead and have the courage to solve problems? Let me put it this way. I know EXACTLY who you will vote for this November.
Yet Scott Walker, who attacked this very problem head-on, is now behind in the recall. The massive union turnout will likely sweep him out and be even more of a cautionary to others that want to do the heavy work than the referendum that went against Kasich last November.
“Illinois residents you get what you tolerate and vote for. You have religiously voted for dems for years in Chicago and downstate”
The checks are still coming, aren’t they?
The pork is still coming, isn’t it?
The ‘walking-around money’ is still being passed out.
The street lights are still on, aren’t they?
The Dem voting sheep won’t get it until THEY are personally effected by events. And by then it will be too late.
Illinois is there to remind Wisconsin residents where they could be headed.
Whether Wisconsin is paying any attention we’ll find out in June.
There is no problem here that cannot be solved by raising: state income taxes, state business taxes, local real estate levies,state sales taxes, state gasoline taxes. Make those fortunate enough to have jobs,businesses,property and autos pay their “fair share.” Why is this even a question?
-- Thomas Jefferson, letter to John Taylor, 1816 "There is not a more important and fundamental principle in legislation, than that the ways and means ought always to face the public engagements; that our appropriations should ever go hand in hand with our promises. To say that the United States should be answerable for twenty-five millions of dollars without knowing whether the ways and means can be provided, and without knowing whether those who are to succeed us will think with us on the subject, would be rash and unjustifiable." -- James Madison, Speech in Congress, 1790 "No pecuniary consideration is more urgent, than the regular redemption and discharge of the public debt: on none can delay be more injurious, or an economy of time more valuable." -- George Washington, Message to the House of Representatives, 1793 "This is the tendency of all human governments. A departure from principle becomes a precedent for a second; that second for a third; and so on, till the bulk of society is reduced to mere automatons of misery, to have no sensibilities left but for sinning and suffering... And the fore horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression." -- Thomas Jefferson"The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."
I quite agree. Walker’s opponent will likely be a far leftist union hack who probably coud not win a statewide office to begin with.
Walker should campaign on his reforms, emphasize the condition of what WI was in in 2010 and where it is now, that Illinois, California, New York are Wisconsin’s future if nothing was done and the left (his opponent) have no problem with that!
Illinois would be a great prop for his campaign. It is so cozy with unions.....something that WI dems want.
In the end, I do not believe WI will recall someone who is being responsible fiscally and trying avoid the economic fiascos in Illinois that are becoming so real to most people nowadays.
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