Come to Illinois…

…we’re not even remotely revolutionary.

Most state employee pension funds are grossly underfunded.  In California, that would rather use money to build a high speed rail, the taxpayers, both state and municipal, are on the hook for $500 billion that is not in anyone’s treasury.  In Massachusetts, the cost of paying public employees promised benefits, that has not been funded, amounts to $13,685 per household.

But Illinois seems to hold the dubious distinction of being the worst.

…Dana Levenson, Chicago’s former chief financial officer, has projected that the average city homeowner paying $3,000 in annual property taxes could see his tax bill rise within five years as much as $1,400. The reason: A 2010 Illinois law requires municipalities to raise the funding levels in their pension systems using property tax revenues but no additional contributions from government employees. [emphasis supplied]

What responsible legislature would pass such a bill?  One beholden to the unions for election money and votes, of course.

Do you have one of those in your state?


6 replies
  1. dkortebein
    dkortebein says:

    ?Here in Wisconsin we are having a frivolous recall election of Gov. Scott Walker for doing the fiscally prudent things needed to stave our State from the fiscal morass that Illinois and California are currently going through. ?My only prayer is that Gov. Walker can win this stupid recall election and keep Wisconsin on the fiscally prudent path.

  2. Forest
    Forest says:

    It is outrageous that the law specifically prohibits raising employee contributions. However there may be a silver lining;? it will make the impact of the pensions more direct on the public and will spark an outcry to really fix the problem.

  3. joe_m
    joe_m says:

    I may spark an outcry but nothing will be done to fix the problem. The votes are fixed. Politicians will continue to rob us blind until we rise up. It is no better here in CT.

  4. JBS
    JBS says:

    Here in CT, our current democrat governor, dan’el P. malloy, bought the votes to elect him with promises to the state employee’s union. After financially crippling the state for future generations, he followed the party script and was back whining that the state was now $200 million in the red. And, true to his democrat roots, he blamed it all on the people of the state — they aren’t spending enough to generate taxes sufficient to support his malloy-coddling of the unions and his friends.
    So, it’s our fault, the taxpayers of this state,? that we have a $200 million deficit!?! I hope against hope that no other state has this kind of politician running things.

  5. Plainvillian
    Plainvillian says:

    Government is required for civilization and is instituted as a symbiotic benefit to the host civilization.? When government proceeds from symbiosis to parasitic, the death of the supporting host can only be averted by elimination of the parasitic components.? Have parasitic components of any government ever gone peacefully??

  6. Lynn
    Lynn says:

    SOS, to your Question, “Do you have one of those in your state?” ?My state, is a state of confusion, do I move or do I stay, as I am sure many nutmeggers are deciding. ?We have a few years to see what ? ?Happens. Meanwhile, the theme song for Conservatives in CT should be “Should I stay or should I go” by The Clash. ?I’m humming it now, maybe it will become a musical password. We market capitalists would pay royalties, of course.

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