"For everyone to whom much is given, of him shall much be required." -- Luke 12:48
Raven - Moneybird's Black Magic Marker***
(Esprit's Power Play x Trumarc's Lean Cuisine)
Mick - Moneybird's Jumpin' Jack Flash***
(Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
Peerless - Moneybird's Sole Survivor
(Two River's Lucky Willie x Moneybird's Black Magic Marker)
CH Rosewood Little Giant VCD2 UDX VER RA MHU SH MXP MJP MFP T2BP TD DJ VCX WCX CCA CGC FFX-OG
also UCH HR UH UUD UJJ URO1 UHIT
(golden retriever) born 3-10-07
a.k.a. "Tito", "The Tito Monster"
Shortfall Threatens Illinois Pension System
by David Schaper
If states could go bankrupt, Illinois might be the first.
State finances are in such a mess that many experts say the "Land of Lincoln" is on borrowed time and money.
One of the biggest issues is a huge unfunded pension liability. According to the Pew Center on the States, Illinois is worst in the nation when it comes to setting aside enough money for its pensions. Its analysis of states' pension funds in 2008 found Illinois had set aside just 54 percent of the money that's been promised to its state workers and retirees.
- more -
What's interesting is a table with the article that shows the top 25 "riskiest" pension funds. Illinois has 2 of the top 10.
There's also an interesting article in The Bond Buyer.
It's a sorry mess that the Illinois politicians have created but the cause is more than just the current crop. It's been building for years.
It is just everytime I see Fed Money I go semi-ballistic.
The Fed has no money, it is all borrowed. Our leadership has led us down a path of financial doom and yet they act like nothing is wrong. All they know how to do is buy votes, not create real jobs or implement anything that is to our longterm benefit. They've robbed Social Security, allow Wall St to continue to write our monatary laws and they can't even secure our boarders. Our politicians refuse to be honest with the American people and the poor tax payer is the one being abused the most!
“Hitler did not have to destroy democracy; he merely took advantage of the decay of democracy and at the critical moment obtained the support of many to whom, though they detested Hitler, he yet seemed the only man strong enough to get things done.” F. A. Hayek from his book, "The Road To Serfdom".