Republican Party Doomed
DOOMED we tell you! Head for the hills!
Has everyone seen the Main Stream Media over the past day or so? They are all sporting huge shit eating grins since the elections on Tuesday because the Republicans failed to capture two governorships that were up for grabs. This, the pundits tell us, is a SIGN! A sign that Americans are fed up with the entire Bush/Cheney/Halliburton/War for Oil conspiracies.
As SteveH at HogOnIce.com points out though, what's the big deal if two states that HAD democratic governors replaced them with - surprise! - democratic governors?
Has everyone seen the Main Stream Media over the past day or so? They are all sporting huge shit eating grins since the elections on Tuesday because the Republicans failed to capture two governorships that were up for grabs. This, the pundits tell us, is a SIGN! A sign that Americans are fed up with the entire Bush/Cheney/Halliburton/War for Oil conspiracies.
As SteveH at HogOnIce.com points out though, what's the big deal if two states that HAD democratic governors replaced them with - surprise! - democratic governors?
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Two states that had Democrat governors replaced their Democrat governors with Democrat governors. How is that a Republican failure? Apparently now, when Republicans fail to dislodge Democrats in Democrat strongholds, it's a huge Democrat victory.
I guess if the Iranians have an election and elect one more in a long succession of Muslim nutbars--instead of a Republican--that will be a setback for Republicans, too.
More here. And still more here where Michael Barone points out that the democratic victors were elected by almost the exact same margin their predecessors had won by. Imagine that!
The Lame-Stream-Media - bringing about a dissolution of the left one day at a time.
The Lame-Stream-Media - bringing about a dissolution of the left one day at a time.
posted by SCC at 8:30 PM
26 Comments:
Mayor Daley takes aim at union pensions
Posted on November 7, 2005 at 01:26:58 PM by Crain Business
Mayor takes aim at union pensions
By Paul Merrion
Nov. 07, 2005
Chicago’s public employee unions must help the city confront a growing shortfall in pension funding during the next round of contract talks, Mayor Richard Daley warned last Friday.
“We’re going to put everything on the table, especially pensions,” the mayor said at a meeting with editors of Crain’s Chicago Business. “They better look at some way that you have to control healthcare and pension costs. If you don’t do it, more and more money will be used for healthcare and pensions.”
Personnel costs, including salary, healthcare and pensions, already eat up about 82% of the city’s proposed $5.2 billion budget for fiscal 2006.
But union leaders balked at the idea of pension cuts after the current contract expires in mid-2007.
“I don’t think it would be fair,” said Christine Boardman, president of public employees Local 73 of the Service Employees International Union. “I’m not going to be very amenable to it.”
At the end of last year, the city’s four pension funds had enough money to pay only 67.9% of promised benefits, a figure that has dropped in recent years and is expected to worsen. “It doesn’t look too bright,” the mayor said.
The current percentage “is not a comfortable number,” said Dana Levenson, the city’s chief financial officer, who accompanied the mayor. “We’d like to see it in the 80s.”
Unions agree that the city’s pension funding shortfall has grown too large. But they don’t see eye to eye with the mayor on either the cause or the remedy.
The city’s recent round of early retirement incentives “cost money and created this unfunded liability,” said the SEIU’s Ms. Boardman. “They have to look at other ways of generating revenues.”
“Speaking for AFSCME, we’ve already given,” in terms of the city’s reduction in headcount, said Hank Scheff, director of research and employee benefits for the American Federation of State, County and Municipal Employees union. “How much can you shave, realistically?” Regardless of their differences with the city, there’s no question the problem is real.
The mayor is being “honest and straightforward” to raise the issue with unions well in advance of the contract talks deadline, said Laurence Msall, president of the Civic Federation, a local government watchdog group. “Definitely, this is something the city needs to take leadership on and the unions need to address. It’s a real liability they can’t escape.”
While city pension funds combined cover 67.9% of promised benefits, the shortfall is much worse for the funds covering firefighters and police.
According to a soon-to-be published Civic Federation analysis, at the end of last year the firefighters plan had only 42.3% of the funds needed to pay the current value of future benefits, down from 60.2% in 2001. The police fund’s coverage ratio was 55.9%, down from 61.4% in 2001. And the general municipal employees pension fund went from being 94% funded to only 72% during that period. Only the laborers pension fund, the smallest of the four, is at or near a fully funded level, allowing the city to skip a contribution to that fund next year.
Here's where we grab the mayor by the balls and shake him up. Our Pension is by far the healthiest it's been in years. Off to defer or even forgive some payments in return for reducing the 30% "merit" for supervisors and the 20% "merit" for dicks. If we can get Maximum Service time cut from 32 years to 29 for a mere $23 million, we should be able to get 80% after 29 years for another 20 million or so. Are you listening FOP?
Mayor Richie Rich fucks up our pension funds, and now he wants US to pay for it?
Kind of like asking all the police officers to pay for the police memorial, huh?
scc
do NOT advocate missing pension payments for any rreason
Once it starts it wont stop
Our health insurance used to be free
Then it was a dollar
then 2 dollars
The pension is more important than the 30 % meritorious
Daley cant wait to stop paying to the pension
Wake up dude
Why not? We've leveraged $23 million dollars into saving 30,000 man (and woman) years of service (reducing time from 32 years to 29 for 10,000 cops). The pension fund tops out at a few billion dollars. Another $23 million leverage (0.6% of the total) could get us back to the Fire Department levels of a mere 18% "merit."
It would be irresponsible NOT to explore what we could get from the city.
And besides, pension payments are mandated by law. Daley can't stop paying into it, but we can "defer it" by agreement. He's over a barrel. He's also not going to be around for much longer. Strike while the iron is hot.
Just a dumb question. Would we be in a better situation with a different mayor or is the city really that fucked up? (budgetwise) If only M. Santos didn't get screwed by hizzoner...
All that money spent on the war could be used to pay for more police and border patrol. POLITICS- go figure.
the pension should be buying ETFs and not front end loaded mutual which have a 1.3% annual fee.
yes they ought to but ETFs or Vanguard funds
Are they buying front end loaded funds??
UNbelivevable
the more people rettire the more expenssive it is for the fund
IE less going in and more going out
The fund is not a bottomless pit of monsy
Gaining man hours was good for us but bad for the fund
You cant keep reaching in and reaching in forever
\DO NOT addvocate missisng payments
Hey SCC you violated your own rules!
This thread is to be on Republican politics and not pensions. You should delete yourself or go to the general thread.
The State of Illinois will not turn Republican until we get rid of Daley, which will in turn pull down Blago, then Durbin and maybe Obama. Let see U.S Attorney Fitzgerald fit hizzonor for an orange jumpsuit.
Then have a viable replacement, like Jesse Jr., if need be, come to us and offer us the medical plans we now miss and all the other benefits taken away. Whatever, don't go for a someone from the old cabal, like Ed Burke and so on.
Better a minority mayor who can take the minority vote for granted and has to cater to the city worker and union to get, and stay elected.
01:40:57 You nailed it right on the head. Get rid of mayor daley and get a minority that will ensure benefits and raises to keep city employees happy. Im sick of mayor daley dumping millions upon millions of dollars on a bunch of crack addict lazy minorities.
Im tired of getting crapped on by mayor daley. Get rid of him hes a no good napolean wanna be.
If we stopped the link cards then booboo the donkey would have to pay for bowling and 40's by getting a job. 0
Quit paying for these lazy donkeys to stay home. I have asthma and I work. But boo boo the donkey gets a link card for havin asthma. Then he goes and plays full court basketball down at the lake front to hussle mo money fo crack.
Think of the money available if the link card system was legit.
Hey M!
Where is the link to the Pat Robertson story on the wrath of God "perhaps" coming down on the people of Dover, PA. because they did not vote the way he thought they should have in school board elections?
If a liberal made such a comment most of the folks here would have been all over it. Nay, the GOP ain't gonna die because Bush and company have the ilk of Rush and such to deceive the American public.
Yep, God will strike out at those Doverians, right after he kills Hugo Chavez as requested by the right Rev.
Where do you work? Are you telling me hypes play pick-up basketball at the lake for dope money? Where do they find some of you. Obviously not in school. Learn how to write.
Going off thread to say God Bless to all the veterans and all those who still serve.
No, Hypes shoot heron, And go find out for yourself by doing a field interview of one of linkers. And my spelling must offend you. Glad it does cuz I finn ta spell da way duke talk. I passed the test on a white score how bout you?
retard
Truth hurts huh? Retard this house mouse.
You're a retard too
Did 'sos goof' ever post the final list that he challenged us with last week?
Just curious.
Have an honored Veterans Day. Support the troops, their mission and all the outstanding men and women who gave their lives for the idea that America is.
Blood and Honor!
Semper fidelis
spin it any way you want......
Can't you allow Dem's to be happy they won a couple elections ?
The spelling JagOff is back.
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