Illinois is Broke
- Chicago business leaders are launching a media blitz Friday to highlight the breadth of the state's dire budget problems under the theme "Illinois Is Broke."
The Civic Committee of the Commercial Club of Chicago says it's pouring about $1 million into a campaign through the November general election to mobilize voters and influence candidates to address the state's fiscal woes.
The non-partisan committee wants the state to reform its method of paying for the massively underfunded state pension systems, including the enactment of a plan that would give lower benefits to new workers.
In addition, the group called for scaling back overall spending. The state's pile of unpaid bills this year reached a record $5 billion.
Spending cuts aren't going to happen under democrats. They aren't going to happen under Illinois republicans either. The "Combine" has a death grip on Springfield and they aren't letting go unless voted out. They will almost certainly go for a two-tiered pension system before cutting any sort of spending.
Here's the IllinoisIsBroke.com website link.
Here's the IllinoisIsBroke.com website link.
Labels: state politics
posted by SCC at 12:02 AM
24 Comments:
How about they stopped "borrowing" money from everyones damn pensions. These fucks continually underfund the pensions then borrow from them cause they fucked up and then do not repay them.
It is a simple concept of compounding interest. Everytime they take money out we are earning interest on a much smaller pool of money. Then they do not even repay what they orignally took out not to mention what it would have earned if the funds had the money the whole time
Pensions will be a thing of the past. Illinois is listed as having the 2nd worst bankruptcy crisis in the USA.
Here's one way to help repair the under funded pension funds: For politico's let them receive pensions based on the same formula we have to use.....best four years out of last ten averaged out.
If that system had been in place for Past Cook County Board ACTING President Bobbie Steele, she would have seen a modest increase in her pension. Instead, she, like others in the county and state, had her pension based on her last salary...that of the County Board President.
For those who don't know it already, the County Board President makes twice what a Commissioner does. That means for four lousy months of filling in, Steele is collecting a pension that EXCEEDS her salary as Commissioner.
How about State Representatives that go and work six weeks at some high paying shit job, then collect a pension based on that job! Meaning they collect more in pension than they made in salary.
Start there. Oh, and keep voting Democratic.....because you know they have our backs. Yeah, right!
YEAH OK!MONEY!MONEY! MONEY!ITS EVERYWHERE!!
illinois is broke because they have a large population of welfare slobs just like california--- the federal government, the state, and the county have to support all these losers--- they get everything for free but we all know nothing is really free, it's paid by YOU, the fool who goes to work everyday--- big fat momma gets the section 8 voucher, has multiple babies by multiple fathers, heat for free, electric for free, medical and dental all covered and they are the biggest beefers.... until we get rid of all the entitlements we will be broke forever.....
Have you seen the numbers we are talking about here ? Illinois is #2behind California in terms of fiscal irresponibility.
THIS IS TERMINAL !
The federal government cannot afford to bail us out and the ponzi scheme is going to end.
Why do you think the mayor is selling what infrastructure he can and neglecting the rest ?
The looting of a country is the last act of corrupt governments.
"Illinois is Broke"
You know what else is broke? Me!
Now give me a contract with raises commensurate with what Daley and his 50 ass-sucking, career criminals gave themselves.
And oh yeah, don't forget my retro.
Yeah a two-tired pension system where the current defined benefit system is replaced with a defined contribution retirement plan system.
What that is going to mean is the schnooks toiling away to create a nest egg of close to a million or more in a (401)K plan to live modestly in retirement will at the same time be taxed up the wazoo to subsidize the obscenely generous defined beniefit plans of government pensioners like retired prison barbers receiving 70-80 percent of the $72,0000 a year salary received.
There is a real shit storm commming because the majority of us who are forced to pay our own way and then pay the way of government retirees are going to say fuck that!
As I've said before, the only ones I feel are worthy of such generous Retirement plans are first responders not Alderman, Bus Drivers. Teachers, Prision Barbers, etc.
Buck Naked
(not a cop)
Dan Proft is NOT part of the Combine. He is the real deal who deserves the support of all.
are our pensions part of the general state fund? shouldnt they have always been a separate fund? seems like our pensions are the least of the spend-a-holics worries in springfield and chicago.they cant manage money...and we suffer.
The best pension system in Illinois is that granted to state office holders and people who sit on boards and commissions ( county board, park district board etc etc). Lets see if these are rolled into any "two-tiered" system. Chicago police officers have the worst pensiion system in Illinois, way behind teachers, surburban cops and state police. WAY BEHIND!
My big problem with this website is they are of course blaming pensions for their budget problems. A pension is a nice thing to have, better than social security at least, and they want to take that away.
Illinois, You Deserve Much Better!
Watch and Vote David Hoffman for Senate!
http://www.youtube.com/watch?v=NYzv4lg79zQ
Yea mayor and your putting more and more illegal mexicans in your shit sanctuary city! Let the taxpayers keep on paying for their free housing,link,medical,build more million dollar+ schools asshole keep warehousing their dumbasses and now your using "our money" to serve them breakfast,lunch and dinner! What respect do we get for funding all this free shit? Police everyday at all the schools to keep the pos from fighting like the animals they are? daley your the worst mayor in the history of this city asshole,how about you and the 50+madigan resign? That would be change we could believe in!
THE ILLEGALS IN THIS COUNTRY ARE BANKRUPTING THIS COUNTRY.
I'm a state employee who has had to by my own office and cleaning supplies b/c the morons I work under are so incompetent we can't pay suppliers in a timely manner.
Once again, I have to hold my nose to vote in the primary due to the stench from the candidates. At least I won't have to wait at the polls b/c the natives I live around do not plan to be informed voters.
Yes, the state continues to raid all pension funds which will lead to dire results.I just hold out for another 5 yr buyout so I can go. This employer is pathetic.
David Hoffman is no reformer, he sat on the Motorola/OEMC investigation until Ronny boy left the city so he couldn't get in any trouble, but Giannouias is probably a bigger ahole.
No elected or appointed office should generate a pension, period. Being an elected official is not a job, it's a civic duty. Losing sight of that was a huge national failure, probably even greater than the socialist schemes perpetrated by FDR and Johnson.
Hold the office for a term or two, do your duty, then go back to the real world and do something useful. These fucks in government have NEVER had to achieve anything in the real world, which is why they make such a fucking mess of it.
The best pension system in Illinois is that granted to state office holders and people who sit on boards and commissions ( county board, park district board etc etc). Lets see if these are rolled into any "two-tiered" system. Chicago police officers have the worst pensiion system in Illinois, way behind teachers, surburban cops and state police. WAY BEHIND!
1/29/2010 10:17:00 AM
Mark Donahue said at the FOP meeting that he'd concede to a two tier pension system. six months ago he said that's out of the question.
Wake up and smell the Starbucks.
Fat pensions are not going to be tolerated by Joe Taxpayer who is trying to scrape up enough to pay month-to-month bills while others go buy their half-million condos in the Sun states with their bloated Illinois pensions.
A second grade teacher making $110,000 retires at over $80,000 at 56. Where is the criticality of his/her job?
With the degreed middleclass getting wiped out by cheap foreign labor being brought in to take over their jobs, they are lucky if they get a retail job.
Better save your beer money for a rainy day because it's coming.
It's coming like Hurricane Katrina.
Yea mayor and your putting more and more illegal mexicans in your shit sanctuary city! Let the taxpayers keep on paying for their free housing,link,medical,build more million dollar+ schools asshole keep warehousing their dumbasses and now your using "our money" to serve them breakfast,lunch and dinner! What respect do we get for funding all this free shit? Police everyday at all the schools to keep the pos from fighting like the animals they are? daley your the worst mayor in the history of this city asshole,how about you and the 50+madigan resign? That would be change we could believe in!
1/29/2010 03:16:00 PM
What about chinatown that has now expanded all the way to Brighton Park? All illegals robbing our money and sending it back to China.
this is by far the most critical situation faceing us and only 20 posts.
we will soon be in very deep shit and most people don't even see it comeing.
ever wounder why people who survived the depression didn't trust banks and hid valuables in the walls ?
i think we are going to find out.
2:19 am You are very, very stupid.
You should read Det SLC- one story after another of crooks stealing millions.
That is where the money is going.
My father said:
If it ain't broke, don't fix it!
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