Illinois households are burdened with $40,000 in pension debt. Without reform, that’s coming out of your wallet. – Wirepoints on with Jeff Daly of WZUS Decatur Radio

Ted joined Jeff Daley to talk about Gov. Pritzker’s fibs on Illinois’ ‘success’ in tackling Chicago crime and state employment, how Illinois businesses and private schools are pushing to succeed despite the obstacles in their way, why Pritzker refuses to talk about Illinois’ crippling pension debts and more. 

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Old Joe
2 years ago

More precisely, in the loss in your home’s property value. The reason everyone will stampede out of Illinois will be the flip side of why nobody wants to buy.

Colour Sergeant Bourne
2 years ago

Pensionproblems? Sorry folks wee have illegal aliens to support. There are priorities.

Daskoterzar
2 years ago

Pritzker and people like him bury their heads in the sand when it comes to problems that are so unsurmountable that there is no way out. So, distract the masses with other issues, other things and maybe they won’t notice. IT will never be able to be paid…people need to move out of Illinois to protect themselves from being robbed blind.

Rick
2 years ago

And we’re also saddled with Ukraine’s pension debt, since that black hole is now totally funded by the US. Pensions, utilities, even salaries. There is absolutely no difference between Democrats and Republicans. Neither of them represent our interests or well being. Stay home, don’t vote. Just hear the words coming out of Nikki Haleys and other candidates mouths. War with China, war with Iran, war in Ukraine, war everywhere, to benefit the military donors. America always starts unprovoked wars, we don’t wait to be attacked, we just attack or coup you if you don’t follow our “rules based order”.

Last edited 2 years ago by Rick
Where's Mine ???
2 years ago

The scary part, if you want to get out and sell your home your window, is your window of opportunity shrinking fast, I asked my wife last night (we’re seniors)? Who’s going to buy your home becomes the BIG question. I don’t see mortgage rates dropping from current 7.2% to 8% on 30yr fixed anytime soon, maybe for years? QE is over. The giant QE/low mortgage rate induced real-estate boom/bubble from 2008 to 2021 is over. Home values in other HOT national markets are rapidly starting to tank. Chicago area home values never really boomed but I don’t see new… Read more »

Pensions Paid First
2 years ago

I guess you’ll just have to stay in Illinois. That’s the reality of moving to another area. The desirable areas will continue to increase in price as long as more people move there which will also prevent the people that can’t afford the new desirable location to stay put.

Where's Mine ???
2 years ago

Where’s the growth, I believe Illinois GDP shrank slightly last quarter? Raising tax revenue or re-amortizing all the debt in a zero growth stagflation economy, at best, or maybe recession at worst for years & years is the dem machines (PPFs) solution’s that they’re betting folk will hang around for or will stay put because the alternatives are no better elsewhere is states that aren’t stuck with these PAST legacy debt burdens. Kind of a share chopper/ down-on-the-farm tax-base equity model. Not to mention piling on mountains of NEW needless spending, (what in world is fiduciary CTU/Brandon doing?). And I… Read more »

Pensions Paid First
2 years ago

Where’s the growth, I believe Illinois GDP shrank slightly last quarter?”

Illinois is ranked 11th in economic growth per capita.

Where's Mine???
2 years ago

This article shows Illinois gdp shrinking at 0.8% last qt. Only one of a few states. https://www.businessinsider.com/recession-outlook-economy-states-contracting-gdp-growth-philadelphia-fed-texas-2023-11

Leaving Soon, just not soon enough
2 years ago

The number is so high it is clear it will never be paid. Many residents cannot afford their own bill let alone this huge debt. Best of luck to PPF.

Pensions Paid First
2 years ago

No luck needed. Plenty of money in the general revenue to cover the annual debt payments. That 40k isn’t due all at once and the state has vast power to increase taxes and cut other spending. I love these types of headlines. It clearly spells out more taxes unless we steal from pensioners. Sorry, stealing from them is not an option just because you don’t want taxes to increase. “Moreover, no possible claim can be made that no less drastic measures were available when balancing pension obligations with other State expenditures became problematic. One alternative, identified at the hearing on… Read more »

debtsor
2 years ago

Not this again.

Pensions Paid First
2 years ago
Reply to  debtsor

That’s what I say every time I see another comment or article about stealing from retirees.

Da Judge
2 years ago

Retirees and public sector unions stole from Illinois taxpayers for decades.

What goes around comes around!!

Living large and enjoying my $200K in tax savings since I voted with my feet and left Taxistan over 20 years ago!!

Sam I Am
2 years ago
Reply to  Da Judge

Only thing large in your life Judge is the BBC you and your wife are [deleted]

Da Judge
2 years ago
Reply to  Sam I Am

The $64,000 question SamIAm is [deleted]

Sam I Am
2 years ago
Reply to  Da Judge

The real question everyone’s dying to know is your real name so let me enlighten everyone first name Jerk last name [deleted]

Admin
2 years ago
Reply to  Sam I Am

Sam and Judge, clean it up, please. We got better things to do than watching your language.

Da Judge
2 years ago
Reply to  Sam I Am

SamIAm,

Profanity is a weak mind attempt to express itself.

Da Judge

Sam I Am
2 years ago
Reply to  Da Judge

Also away to get a point across JagBag

Hello, Indiana!
2 years ago
Reply to  debtsor

“ Increase taxes (again and again and again..). Sure! Why not in one of the heaviest taxed states of the country? At least Jesse James had a horse and a gun.

Pensions Paid First
2 years ago

When government spends more than they take in, taxes will need to be increased. As long as voters continue to elect leaders that want to spend more money that will continue. If you don’t like it different leaders will need to be elected.

It’s not “sure! why not” but rather “of course taxes will increase because we spent more money. It’s really not that hard.

Hello, Indiana!
2 years ago

Or how about a little accountability as to the allocation of money they already collect! No way! Just raise taxes! Party on Joe! Party on JDP! Taxpayers—denied!

Pensions Paid First
2 years ago

That’s not what the voters want based on their choices for elected leadership. How about accountability of the voters as to who they elect? No way! Just complain about the outcome after you decided on your candidate. Do you order prime rib at a restaurant and then complain that it’s not priced like the chicken when the bill arrives? Time to grow up. Man baby mode – denied!

ProzacPlease
2 years ago

We are being charged for prime rib, we didn’t even get chicken. We got bologna.

Pensions Paid First
2 years ago
Reply to  ProzacPlease

Yet you keep going back to the same restaurant.

If you really believe you are not getting what you paid for then elect different leaders or find another place to live.

Last edited 2 years ago by Pensions Paid First
ProzacPlease
2 years ago

Or hire different people to run and staff the education system “restaurant”. Oh wait, we can’t do that, even though we the taxpayers own this “restaurant”. The sacred union, you know.

Keep serving up the bologna and telling us it’s the prime rib we ordered, so shut up and pay.

Pensions Paid First
2 years ago
Reply to  ProzacPlease

You are free to elect different people to run the school systems or other forms of government.

Keep ordering prime rib and complaining that it’s bologna while going back to the same restaurant each and every day. When the check comes you are still paying.

ProzacPlease
2 years ago

Oddly enough, restaurants don’t charge people based only on what they ordered. They can only charge for what actually got served and eaten. That’s how things work in the private sector.

Pensions Paid First
2 years ago
Reply to  ProzacPlease

Imagine going out to dinner with 9 of your friends every month. You vote on where you would like to go as well as the price point. 6 people keep voting for the same restaurant that you don’t like. If you keep going (remain in Illinois) to the same restaurant because you enjoy your friends (maybe your job or family) but hate the food that’s your decision. You’ve decided that even though the restaurant is awful by your standards it’s still worth it to be with your friends (remain in Illinois). If it’s not worth it then you free to… Read more »

ProzacPlease
2 years ago

Imagine you don’t have to go out “in group” if you want to eat. Imagine that each person could choose the restaurant that suits him. Gosh, how would it be possible to have such a system? Can you say “school choice”?

Sorry your restaurant analogy failed so misersbly.

Pensions Paid First
2 years ago
Reply to  ProzacPlease

You are free to go to another state where they serve up school choice. As long as you remain in Illinois you will live by the groups rules. If you want to go it alone then I suggest moving out into the woods and living off the land. Otherwise you will follow the laws that the majority decides. Time to put on your big boy pants and recognize how the world works.

You are not a victim. You are actively choosing to live in Illinois and play by its rules.

ProzacPlease
2 years ago

I’ll give you credit. You never try to defend the education system, unlike some others do. You are clear in exercising the power and muscle tactics, which is really what this is all about.

Pensions Paid First
2 years ago
Reply to  ProzacPlease

What power and muscle tactics have I employed? You have me confused with someone else. I’ve merely outlined the current situation and won’t let voters to play the victim when this is exactly what they have chosen. You continue to make false assumptions as to my role in public education.

Leaving Soon, just not soon enough
2 years ago

PPF, I am a high-income person and will leave ASAP taking with me the tax dollars and lots of economic activity dollars. I will leave you the 1 Finger Salute. Hundreds of thousands of others have already left this nightmare.

Pensions Paid First
2 years ago

You keep saying you will leave but lack the courage to follow through. Illinois would be just fine without you but apparently you can’t leave.

Leaving Soon, just not soon enough
2 years ago

So “steal” from Pensioner’s, you really think the taxpayers give a hoot?
Soon the only people left in the Chitty will be poor immigrants with no money. Get blood from a rock. High income people are fleeing the state, what will be left is people who cannot pay their own bills.

Pensions Paid First
2 years ago

I know the taxpayers don’t “give a hoot”. That’s why they continue to elect leaders that promise tons of services without properly raising taxes. Unfortunately for the those taxpayers that want to steal the courts have told them to pound sand. They can either raise taxes or cut services. The courts don’t give a hoot what is done as long as pensions are paid. Also, Illinois is 12th in per capita income per an article on this very site. The idea that all the money has left the state or will soon is ridiculous. Tax revenue collected in the last… Read more »

Da Judge
2 years ago

Mr. Glennon has indicated he will start allowing us to Mute tards like PPF!!

Admin
2 years ago
Reply to  Da Judge

No, I haven’t. And your comments aren’t exactly enlightening.

Willowglen
2 years ago

PPF – re per capita income – – economists tell me the most relevant economists figure is debt to GDP. Indeed this was the material factor behind the US Government’s downgrading to a AA rating. On this relevant metric Illinois scores horribly. You seem to agree that Illinois is becoming a dismal place – you encourage others to move – so I would think you would agree that the state faces severe economic challenges. I do think the per capita income is relevant to mention because a large economy of producers won’t unravel quickly. But politicians have made the state… Read more »

Pensions Paid First
2 years ago
Reply to  Willowglen

Agree with much of what you wrote. The state is horribly run but that’s because the voters continue to choose the same type of leaders. The voters don’t want to hear that we need to be responsible with our finances, pay down debt, cut services, stop initiating new spending as well as potentially raise taxes. The voters don’t want to reward an honest leader.

Instead we get lied to about how we can continue to spend more money and the “other” guy will pay for it. We are getting the government that we deserve.

debtsor
2 years ago

I’d go as far as saying that IL Democrats – in control of on one party state – haven’t ever really given voters the options for a frugal and balanced budget government. You have to understand, on some level, many of our state’s problems arise out of our one-party Democrat controlled state. They tell voters what the agenda is: lots of spending. The voters themselves have little say otherwise, because the only other choice on the ballot is Republican, and that’s toxic in this state.

Pensions Paid First
2 years ago
Reply to  debtsor

Nothing prevents people from switching parties and voting for different leaders. You are not born a democrat or republican and forced to stay in you same lane. People have the power to make changes if they want change. It doesn’t appear that enough voters want change.

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