Quinn wants federal government pension bailout guarantee

Illinois is one of the public union states that will one day need a federal bailout because of their pension shortfalls. Governor Quinn has now made that official by pointing out in his budget proposal that, “significant long-term improvements” in that debt will come from “seeking a federal guarantee of the debt.” Excerpt: Now that Chicago’s children have returned to not learning in school, we can all move on to the next crisis in Illinois public finance: unfunded public pensions. Readers who live in the other 49...

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State pension problems being solved on taxpayer’s backs

Even the Democrats in Springfield are seeing that there is little hope for an easy solution to the over $80B pension shortfall, considering the pension calculations are based on a return on investment that is greater than any currently available. Unions can shout all they want, according to Scott Reeder of the Illinois Policy Institute, in his guest column in the Rockford Register Star, but the unions are partially responsible and played a role in creation of the deficit by agreeing to increases that couldn’t possibly be paid for...

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Walker didn’t win because he outspent his opponent

Even after Governor Walker fended off the recall election, increasing his margin of victory by 60% over the election held 17 months ago, the media refused to acknowledge Walker’s decreased deficits, increased popularity and saving taxpayers millions of dollars. No, they reported that the reason Walker had won the recall election was that he had more money to spend than Milwaukee Mayor Barrett, money Walker had obtained only because of the recent Supreme Court decision, “Citizens United v. Federal Election Commission.”...

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Illinois needs Governor Walker to fix some of its problems

Illinois needs Governor Walker’s assistance regarding public employee benefits and collective bargaining and to help straighten out the fiscal mess like he did in Wisconsin. Many teachers in the state don’t pay anything toward their pension but can retire in their mid-fifties with annuities equal to 50 – 60% of their final pay, plus a 3% compounded cost of living increase each year. Excerpt: The (Illinois) state’s pension bill, which has quadrupled in five years, consumes all $7 billion of additional revenue from last...

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Governor Walker wins big against public unions!

Most headlines Wednesday morning were variations of Walker “survives” close recall election. The actual facts are not only did Walker become the first governor to win a recall election; he improved his winning margin by 60% over his previous election only 17 months ago! This recall election was a farce and shouldn’t have occurred. The recall was special interest groups of public employees, disagreeing with the votes of officials elected by a majority vote of the people. The unions wanted to run Gov. Walker out of the capitol...

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