Comments on: Pensions — the promises that cannot be kept http://blogs.e-rockford.com/editorsnote/2009/06/29/pensions-the-promises-that-cannot-be-kept/ Back in the old days -- that's less than a decade and before there were such things as blogs and interactive conversations with readers -- editors used to respond to their newspaper readers with an "editor's note." Sometimes it clarified a point made in a letter to the editor. Sometimes it offered a correction. Sometimes it was just a simple explanation. An editor's note was a handful of sentences; maybe a four or five paragraphs. It was always a personal link between the editor and the reader. Only difference between it and today's blog is the immediacy and the platform. Welcome to Editor's Note. Sun, 22 Nov 2009 12:21:41 +0000 http://wordpress.org/?v=wordpress-mu-1.2.4 By: Jeffrey Stewart http://blogs.e-rockford.com/editorsnote/2009/06/29/pensions-the-promises-that-cannot-be-kept/#comment-421 Jeffrey Stewart Sun, 05 Jul 2009 16:59:16 +0000 http://blogs.e-rockford.com/editorsnote/2009/06/29/pensions-the-promises-that-cannot-be-kept/#comment-421 So where is the outrage? This has been an issue for a very long time. Yet voters continue to vote the rascals in. It is great that this newspaper is starting to focus on the issue. But the issue has been an issue for a couple of decades. It doesn't take a rocket surgeon to identify an unsustainable process. Well, perhaps it does. And it’s not like there are not cries from the wilderness. As one legislator, Senator Severson has always made this a major point. But again where is the outcry? If the state and federal governments were held to the same standards as private business, this process would be illegal. There would be even more Illinois Governors in jail. This deception is one of the components of the Enron scandal and the resulting Sarbanes-Oxley regulations. Again, why are there not elected officials in jail? You note that the unfunded pension liabilities in Illinois are over $50 Billion. On a national level, unfunded obligations for social security, Medicare and pensions are approaching $50 TRILLION. This will eventually bankrupt us all. Our kids understand that there is not way that these social support structures will be there when they retire… and they will be responsible for our evil ways. It kills me to think of how their future will be so burdened by this horendous debt. Everyone should take a look at the work of the Peter G. Peterson Foundation (www.pgpf.org). They are trying very hard to raise the pubic awareness of this issue. The only way any of this will ever change is for all of us to rise up and not only demand change on this issue, but demand change for the entire political process. Unfortunately this is an excellent example of the adage that people get the government that they deserve. So where is the outrage? This has been an issue for a very long time. Yet voters continue to vote the rascals in. It is great that this newspaper is starting to focus on the issue. But the issue has been an issue for a couple of decades. It doesn’t take a rocket surgeon to identify an unsustainable process. Well, perhaps it does.
And it’s not like there are not cries from the wilderness. As one legislator, Senator Severson has always made this a major point. But again where is the outcry? If the state and federal governments were held to the same standards as private business, this process would be illegal. There would be even more Illinois Governors in jail. This deception is one of the components of the Enron scandal and the resulting Sarbanes-Oxley regulations. Again, why are there not elected officials in jail?
You note that the unfunded pension liabilities in Illinois are over $50 Billion. On a national level, unfunded obligations for social security, Medicare and pensions are approaching $50 TRILLION. This will eventually bankrupt us all. Our kids understand that there is not way that these social support structures will be there when they retire… and they will be responsible for our evil ways. It kills me to think of how their future will be so burdened by this horendous debt.
Everyone should take a look at the work of the Peter G. Peterson Foundation (www.pgpf.org). They are trying very hard to raise the pubic awareness of this issue. The only way any of this will ever change is for all of us to rise up and not only demand change on this issue, but demand change for the entire political process. Unfortunately this is an excellent example of the adage that people get the government that they deserve.

]]> By: Paul http://blogs.e-rockford.com/editorsnote/2009/06/29/pensions-the-promises-that-cannot-be-kept/#comment-419 Paul Wed, 01 Jul 2009 01:17:35 +0000 http://blogs.e-rockford.com/editorsnote/2009/06/29/pensions-the-promises-that-cannot-be-kept/#comment-419 So what are you media's types doing about it? The answer is nothing. You know this diversion of funds has been going on for years and just sat back doing nothing. Like you mentioned, the public types (libral term for politicians) drugged it back with promises to get us back to 80% funding in a few years. So what did you do when that did not happen. Again, the answer is nothing. They keep doing that because they know they can. When have you ever went back and blasted these "public type" after they fail to follow through. How many of our locals voted yes to diverting the pension funds to other pet projects? We don't know because you continue to endorse these same politicians. The only way to correct this in the long run is to vote these crooks out of office and it takes a responsible media providing factual information to get people to vote responsibly. Negative publicity is the best way of getting any politician to change his ways and start doing the right thing. Let them get away with anything and they will continue to do the wrong thing. By allowing themselves to be manipulated by the politicians, the media is equally responsible for the current financial crisis in Illinois. So don't just sit up there in your ivory tower and complain. Do your job. So what are you media’s types doing about it? The answer is nothing. You know this diversion of funds has been going on for years and just sat back doing nothing.

Like you mentioned, the public types (libral term for politicians) drugged it back with promises to get us back to 80% funding in a few years. So what did you do when that did not happen. Again, the answer is nothing.

They keep doing that because they know they can. When have you ever went back and blasted these “public type” after they fail to follow through. How many of our locals voted yes to diverting the pension funds to other pet projects? We don’t know because you continue to endorse these same politicians.

The only way to correct this in the long run is to vote these crooks out of office and it takes a responsible media providing factual information to get people to vote responsibly. Negative publicity is the best way of getting any politician to change his ways and start doing the right thing. Let them get away with anything and they will continue to do the wrong thing.

By allowing themselves to be manipulated by the politicians, the media is equally responsible for the current financial crisis in Illinois.
So don’t just sit up there in your ivory tower and complain. Do your job.

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