Illinois and California have largest unfunded pension liabilities – The Bond Buyer

California and Illinois are the largest contributors to an expected $1.3 trillion in unfunded pension liabilities for the 50 states in fiscal 2023, according to a Reason Foundation study, which is linked here.
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Giddyap
6 months ago

Time to pass a constitutional amendment — to zero out the pensions and union contracts — start from scratch

Pensions Paid First
6 months ago
Reply to  Giddyap

Sure. Let’s change the constitution of the United States to scratch out the contracts clause of the US Constitution. That’s the only way that could happen. Good luck with that.

Time for the Illinois taxpayers to pay more money now or accept the fact that they will pay more down the road. Spew your hatred and name calling all you want but in the end those pensions will be paid.

James
6 months ago

Wouldn’t it be a (not so) great world if each consumer could mandate another person’s worth and work compensation without recourse? The implied motive there is mine is always worth more than yours.

Chapter 9 Trustee
6 months ago
Reply to  James

That already exists. If I need a landscaper I can choose one and negotiate with him, if we don’t come to an agreement I choose a different one. Restaurant A is not as good as restaurant B so they get less customers less tips and less money for the owner. There’s some exceptions to this. That would be the public sector unions which have an incestuous relationship with the politicians that they help get elected. We have no ability to negotiate or don’t have other choices as to who fixes the street picks up the garbage or teaches your kids.… Read more »

Pensions Paid First
6 months ago

Then elect different leaders if you are not happy with the way they negotiate. You have a choice on Election Day but after contracts are issued you are bound by them. The people of Illinois wanted unions (including public employees) to have the right to collectively bargain. You get to make choices all the time but your neighbors don’t agree with you. If you choose to remain in Illinois then you live by the rules.

Freddy
6 months ago

I don’t understand to which elected officials you are referring to? State or local or both. We elect local school boards but many but not all are backed by the unions. If a candidate’s platform is to reign in costs they have little chance of getting elected since the school employees and families are a large voting block and lots of negative ads are seen in the media. If you are referring to state officials none of them including the governor are allowed in contract negotiations even though they must pay just over 30% of the districts finances which is… Read more »

Pensions Paid First
6 months ago
Reply to  Freddy

“If a candidate’s platform is to reign in costs they have little chance of getting elected since the school employees and families are a large voting block and lots of negative ads are seen in the media.” Teachers and their families are a minority voting block. In the suburbs, many of those teachers don’t even live within district boundaries and don’t even get to vote. They are far from a large voting block. Also, If they run an ad that states the other candidate wants to spend less money and the voters view that as negative, then of course those… Read more »

James
6 months ago

Yes, but no. You are but one customer, and unless your point of view is widely shared by others, then you don’t dictate what he charges you.

Leaving Soon, just not soon enough
6 months ago
Reply to  Giddyap

Time to allow states to go bankrupt and let the courts sort out what is “Fair” for everyone.
Or much easier is to leave, just follow the crowd out.

Tom Paine's Ghost
6 months ago

And they are counting on my elderly mother in financially competent Ohio to bail them out. Disgusting and perverted. They are greedy evil vermin.

Pensions Paid First
6 months ago

No, that’s you and others on here that refuse to actuarially fund the pensions. You want to just whine about it and hope for a bailout instead of actually being responsible and paying your bills.

Da Judge
6 months ago

Two Big Blue states full of corrupt Dems and their masters da public sector unions!!

Robert L. Peters
6 months ago

Just like Laurel and Hardy, two goofs.

Ex Illini
6 months ago

No surprise that the gruesome twosome of Pritzker and Newsome are the worst!

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