Illinois Insolvent Due to Pensions

Danbones

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Sep 23, 2015
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Well thats what happens when you let the leftii unions run stuff.

"Effective immediately, 100 percent of the Illinois state budget must be allocated to pay pensions, leaving not a single dollar for schools, public safety services, road construction and maintenance — or anything else that is not a pension. Glenn warned of this very thing beginning in 2008. On this installment of Think Tank, Glenn and the crew take a look at the mind-boggling, utter incompetence and government overreach that caused this outrageous problem. Is there any chance Illinois can recover?"
GB Prediction Come True: Illinois Insolvent Due to Pensions – Glenn Beck

"Here's what you probably don't know about Illinois pensions

Illinois' budget mess is the stepchild of Illinois' pension mess, and for that perhaps nothing incites more steam-coming-out-of-the-ears fury from critics than the volume of six figure annual retirement payouts—topped by one at $581,000—pledged to former public workers."
http://www.chicagobusiness.com/arti...ou-probably-dont-know-about-illinois-pensions

It's these greedy public purse rapers who never did their jobs well in the first place that need some talking too.

This crisis will slowly spread to other states, and countries, and provinces, as things turn belly up in the rest of the country, the continent, and the in world's financial system.

They say the US is headed down the same road as other Banker victims like Argentina and Venezuela, and is the result of LEFTIST/rightist destroy and rape policies.
(though the right tends to use foreign war, the left tends to steal at home generally, but really though, they are globalists altogether under the Heading of that same old same old left right Hegelian dialectic)

The globalist banker will try to blame Trump of course but obviously this is a mess he inherited from previous globalist run fake news governments who have been running washingmachingington since the coup they committed on JFK.
 
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Danbones

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Sep 23, 2015
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All the real stolen loot is likely stashed at the Vatican...in a mob bank
except for what the pirates snag on the inbetweens
:)
 

Danbones

Hall of Fame Member
Sep 23, 2015
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Like the ones that created and ran the system that now pays them with the tax payer money they don't have?

lol
I can see its effected the mental health system badly in the town you live in.
 

coldstream

on dbl secret probation
Oct 19, 2005
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This has a cause not related to unions or even spending. It comes directly from deindustrialization and the impoverishment of large sectors of the industrial working class. It relates to free trade and monetarism (commodification, denationalization and free markets in currency and credit). It relates secondarily to the other totems of neocon/neolib orthodoxy.. privatization, deregulation, regressive taxation.

The decline in tax revenue has been so dramatic that it has exceeded any ability of governments to cut spending radically enough to maintain its obligations or its infrastructure. It is a pervasive problem for the entire West.

Austerity and massive cuts in government services and pensions looms. We'll become like Greece with banking parasites and supranational corporate scavengers moving in to pick on the carcass.

THIS is where Trump's priorities should lie.. that's why he was eletected.. not Syria or health care or border walls.
 
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Danbones

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Sep 23, 2015
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effected.

Oh look not just a nazi, a spell nazi
(lucky you have spell check to check for you eh?)
;)

This has a cause not related to unions or even spending. It comes directly from deindustrialization and the impoverishment of large sectors of the industrial working class. It relates to free trade and monetarism (commodification, denationalization and free markets in currency and credit). It relates secondarily to the other totems of neocon/neolib orthodoxy.. privatization, deregulation, regressive taxation.

The decline in tax revenue has been so dramatic that it has exceeded any ability of governments to cut spending radically enough to maintain its obligations or its infrastructure. It is a pervasive problem for the entire West.

Austerity and massive cuts in government services and pensions looms. We'll become like Greece, with banking parasites and supranational corporate scavengers moving in to pick on the carcass.

THIS is where Trump's priorities should lie.. that's why he was eletected.. not Syria or health care or border walls.

Yeah, if the place still had some jobs
what ever happened to those?

...and will those unionized dough suckers give something up for the poor they were supposed to serve?
No they - the lowest common denominators, will just serve them selves first as they always did.
 

Danbones

Hall of Fame Member
Sep 23, 2015
24,505
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You should never argue with a crazy ma-ma-ma-ma-ma-man
You oughta know by now

-- Billy Joel
which is why I like to kick your a$$ and leave all the time
:)

Illinois could be 1st state with 'junk' credit due to budget

"It isn't a political show," he said. "Everyone in Illinois has a stake in what's happening here. One day everybody will wake up and say 'What happened? Why are my taxes going up so much?'"
...The agencies are concerned about Illinois' massive pension debt...
Associated Press

Of course they are:
;)
...and all because of a bunch of lazy, greedy, unionized, bureaucrap spell NAZIs
 
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taxslave

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Nov 25, 2008
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The smart thing would be for the state to declare bankruptcy and let all the rich pensioners stand in line with everyone else to get paid.
 

Bar Sinister

Executive Branch Member
Jan 17, 2010
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Well thats what happens when you let the leftii unions run stuff.
No, that is what happens when right wing politicians don't fund pensions properly. We had the same problem in Alberta with pensions until the unions took control of their pension plans away from the government.
 

Danbones

Hall of Fame Member
Sep 23, 2015
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Funny, as pointed out above, Illinois is a blue state
https://en.wikipedia.org/wiki/Red_states_and_blue_states

Reading this provision in a highly literal, absolutist manner, the Illinois Supreme Court seemed to hold that any modifications to pension terms and benefits for past or current employees were therefore prohibited by the Illinois constitution.

Quite possibly, the result is going to be that, because of an imprudent choice of wording made in 1970, wording that opened up the possibility that pension liabilities would come to consume state and localities’ budgets, already-inadequate state services for the most vulnerable people in Illinois, disabled and poor kids, will be cut.
https://news.northwestern.edu/stories/2016/04/opinion-huffpo-illinois-pension/


yeah, just screw the kids and the disabled for the benefit of the union pensions.
 
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Danbones

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Sep 23, 2015
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I'll say again:
Reading this provision in a highly literal, absolutist manner, the Illinois Supreme Court seemed to hold that any modifications to pension terms and benefits for past or current employees were therefore prohibited by the Illinois constitution.
repetition for emphasis