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Illinois is in BAD Shape...but why?

Discussion in 'Political Discussion' started by PatriotsReign, Oct 26, 2012.

  1. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    It's mainly due to public-sector pension funding, that's why!

    They had years and years of sweet deals made by their politician with public-sector unions and now "Someone" is going to have to pay the price.

    If I were a citizen of Illinois, I would not want that "Someone" to be taxpayers!

    Illinois Pension Funding Levels

    •Teachers Retirement System (TRS) - 46.1%
    •State University Employees Retirement System (SURS) - 45.3%
    •State Employees Retirement System (SERS) - 34.9%
    •General Assembly Retirement System (GARS) - 20.2%
    •Judicial Retirement System (JRS) - 31.0%

    http://www.statebudgetcrisis.org/wpcms/wp-content/images/2012-10-12-Illinois-Report-Final-2.pdf
     
  2. Real World

    Real World Moderator Staff Member

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    I'm trying to figure out how all these obligations get paid. The projected numbers, not only for Illinois, but for other states, counties, cities, even the fed, don't work long term. Something is going to have to give, and I'm really curious what happens in the end. San Bernadino I think it is, just halted it's pension payments. It's flat broke and can't make them. What gives? Something has to.
     
  3. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Easy...immediately cap the highest pension allowable at $100k/year.

    No public employee deserves a pension above that level.

    One thing we can ALL agree upon is that taxpayers will not be willing to bail them out.

    Tough sheeit.
     
    Last edited: Oct 26, 2012
  4. Real World

    Real World Moderator Staff Member

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    Do you think the unions would agree to cap existing pensions? I don't. With people living much longer now, and overall costs outside of pensions continuously rising, existing pensions will have to be dealt with in some way. I'm curious to see how it all plays out.
     
  5. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    I will engage my inner Harry typing ....

    corruption.

    one word answer.
     
  6. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    It doesn't matter what the unions think, any state can cap pensions retro-actively with an amendment.

    I'm not "curious" but more "conerned" about how this plays out. We need to protect taxpayers more than public sector retirees. In retrospect, we all know now just how foolish the deals made by our politicians with public sector unions were, don't we?

    Keep in mind that these pensions ASSUMED an average 8% return on investments! That in itself tells what dopes these people are!
     
  7. Hamar

    Hamar In the Starting Line-Up

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    Politicians traded the future of their states and cities for votes.
     
  8. Real World

    Real World Moderator Staff Member

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    Hey, I agree with you. I'm "curious" (as well as concerned of course) because I want to see how it all plays out from a legal perspective. Some people spout that "promises were made" and such. I'm "curious" to see how the law, and reality, play out here. If the courts determine that any and all promised obligations must be met to the letter by which they were written for example, what's next? Either massive service cuts, massive tax increases, or both will ensue. Both of which will likely drive citizens to move elsewhere, which could end up with a collapse of said city or county. Then what? This is where my curiousity rests. Does reality set in, where agreements are made, or are lines drawn in the sand. The bottom line is that some of us know that the obligations simply can't be paid as currently constituted. The numbers just don't work.
     
  9. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    IC ... you really need to stop ... comments like this do not help at all. It's their business what they respond to and what they don't. When you choose to call people out ... which is against the spirit of what Ian wants then you forfeit your right to post in the thread.
     
  10. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Ok, I'll make his point in more "friendly" manner.

    Where tha heck are all our libruls?:eek:
     
  11. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    Why does it matter?

    Are our left leaning members of the forum the official spokespeople of the left?
     
  12. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    I'm a wise-guy IP.....some stuff here I find so strange all I can think of is writing something funny or wise-arsed.

    I could care less where anyone is really...heck, I'm wondering where the heck I am right now....and I'm home.
     
  13. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    Where's your wallet? That is what you need to be worried about - Obama may have it.:p
     
  14. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    I'm worried more about 10-20 years from now IP....and how we all get from here to there.
     
  15. scout

    scout Veteran Starter w/Big Long Term Deal

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    #15 Jersey

    It is a corrupt state. The line is that it is second to Louisianna. Mass is also on the list. Something like 5 of the last 7 governors went to prison (two are currently serving, both R &D).
    -Icy; I'm sure you can make a case for RI to be on the list.
     
    Last edited: Oct 27, 2012

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