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Tuesday, March 31, 2015

Outrageous public pensions could bankrupt these states

There are more on the short list unless the courts uphold the reforms

Some of the worst public-sector pension problems in America are playing out in states and cities where legislation or local court rulings have granted extraordinary protections to workers’ retirement benefits—far beyond those enjoyed by private-sector employees.

Illinois officials, for instance, are awaiting a ruling from the state’s Supreme Court on a suit by workers seeking to overturn the legislature’s 2013 pension reforms. If the court, which has previously refused to allow any changes to retirement plans for retirees or current workers, throws out the reforms, Illinois will face $145 billion in higher taxes over the next three decades just to pay off the debt, according to a report by the Civic Committee of Chicago.



Anonymous said...

These government employees don't get it and the worse part is most are parents. It's a damn shame they give so little regard to their own children's future by not sacrificing a little bit now.
We have this mindset locally. You see them all over FB trying to show off and making people think they are actually good parents when the reality is they are the worse kind of parent a child could ever have and aren't fooling a lot of us. You don't contribute to leaving the children with a pile of debt and if you do you are a piss poor example of human being and a parent.

Anonymous said...

3:13-Those gov employees represent a tiny percentage of Americans in general.The children of those employees have an inside track with future employment.It's true that some parents are lacking,but the long term benefits prevail.

Anonymous said...

3:33 You must be a government employee because you are clearly lacking in forward thinking skills. Whatever percentage government employees represent is a non issue and why you would even go there makes zero sense.
FYI-Money doesn't grow on trees. Is that clear?
If it isn't don't bother reading the rest of this comment because you aren't intellectually capable of understanding-okay.
Now most of the governments money comes from taxes-income and property.
If you haven't noticed property assessments are falling at a rate never seen before so that means the government collects less. Are you still with me or is this way over your head? As far as income taxes less and less people pay them every year, same with inheritance tax and a lot of other taxes. This is why goofy politicians have to dream up revenue from other sources like the rain tax. Are you getting it?
Governments have and are laying off employees and getting rid of postions all together because the money coming in isn't keeping up with the money going out.
Me I should care less. I have no children and if another dollar never found it way in my wallet I wouldn't suffer for anything. I have more than I'll ever need.
The nauseating part is that I care more for the children I don't even know than their own parents do. Good parents do all they can to leave the country in a better position for their children. Being a direct cause of the huge debt makes them the worse kind of parent a child could ever have.

Anonymous said...

Unions are just legalized organized crime!

Anonymous said...

5:33-Sorry about your current state of employment.You would never go on a rant like that if all was perfectly OK.

Anonymous said...

5:41 So you're saying employees are just criminals?