While an actuarial analysis of HB 4673 has yet to be released, a similar proposal by State Rep. Stephanie Kifowit last year was projected to add $60 billion in liabilities just to implement across the state’s three largest pension systems
So let me get this straight. You can’t fund the pension promises already made. So this genius comes up with the great idea of making the size of the unfunded liabilities much larger. Your “constitution”, Amendment 1 and your bought and paid for supreme court and general assembly preclude any idea of reducing that liability. Only a few conclusions can come from such a proposal. 1. The person proposing this and her party could not care less about how this gets paid or who has to pay it. 2.The person proposing this and her party don’t care if this ever… Read more »
I would go with all 5 as well, they are all true and correct. I would also add a sixth condition; the legislators and the unions know that a bankruptcy is a real possibility, and they are raising the pay levels as high as possible for the eventual haircut and shave that will occur…
David F
3 months ago
Just keep digging apparently state hasn’t hit bottom yet.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
So let me get this straight. You can’t fund the pension promises already made. So this genius comes up with the great idea of making the size of the unfunded liabilities much larger. Your “constitution”, Amendment 1 and your bought and paid for supreme court and general assembly preclude any idea of reducing that liability. Only a few conclusions can come from such a proposal. 1. The person proposing this and her party could not care less about how this gets paid or who has to pay it. 2.The person proposing this and her party don’t care if this ever… Read more »
I would go with all 5 as well, they are all true and correct. I would also add a sixth condition; the legislators and the unions know that a bankruptcy is a real possibility, and they are raising the pay levels as high as possible for the eventual haircut and shave that will occur…
Just keep digging apparently state hasn’t hit bottom yet.