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DeMint joins national effort
to keep feds from bailing out
state pension systems

FOX News, by Staff

Original Article

Posted By:CEP, 9/30/2012 9:07:15 PM

Illinois Democratic Gov. Pat Quinn is getting hit with a nationwide backlash over his suggestion that the federal government bail out the state employees’ pension program. Critics have in the past several days pounced on the suggestion, made last year when Quinn, in announcing the state’s fiscal 2012, said part of Illinois' long-term effort to reduce the estimate $167 billion in under-funded liabilities would be to seek “a federal guarantee of the debt.”

Comments:
Sorry no bailouts for state employee pension plans with Federal Taxpayer money. Let the states deal with the mess they and the unions created.

      


Post Reply  

Reply 1 - Posted by: Robinsolana, 9/30/2012 9:19:52 PM     (No. 8901038)

This is fundamentally corrupt.
Just what you would expect from Obama.

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Reply 2 - Posted by: KTWO, 9/30/2012 9:24:46 PM     (No. 8901043)

The states can make compact among themselves with the permission of Congress.

So I propose the states that wish agree to bailout the public employees of other states.

CA, IL, and NY could agree to pool all their pension funds and liabilities. It seems like a splendid way for the public servants of one state to help their comrades in another.

And the more selfish people in other states need not pay for it.





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Reply 3 - Posted by: avikingman, 9/30/2012 9:28:47 PM     (No. 8901049)

Collusion at the highest level, and coming from the 'RATs of course.

Nice way to swing an election. Won't work. You can't BS independents all of the time.

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Reply 4 - Posted by: whyyeseyec, 9/30/2012 10:04:19 PM     (No. 8901094)

Let`s go through the voter rolls all over the country and tax registered democrat at a higher rate. They want perpetual welfare let them pay for it.

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Reply 5 - Posted by: Blackeagle, 9/30/2012 10:48:20 PM     (No. 8901140)

The ''President of Chicago'' might be for it but the House would never pass it - and if they did the Senate would filibuster. Too many states have kept their houses in order - and would not agree to bailing out the stupid and corrupt states.

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Reply 6 - Posted by: wlit22z, 9/30/2012 11:42:32 PM     (No. 8901203)

No, No a thousand times no. Never, never, never.

Let Illinois, California and all the other stupid states bail themselves out. They made the mess, now they can live with it. Let them raise the taxes on their own citizens, not the rest of us, who had nothing to do with it.

Those governors are leeches and need to face the music, just like the stupid voters who put them in office. Democraps want to have their cake and eat it too.

A bailout of the state pensions would be worse than the bailout of the auto companies and make about as much economic sense.

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Reply 7 - Posted by: TXknitter, 10/1/2012 12:35:34 AM     (No. 8901259)

I wish I were confident that a Romney administration, Boehner and McConnell would say no, a thousand times no to this idea.

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Reply 8 - Posted by: veritas, 10/1/2012 2:15:15 AM     (No. 8901328)

Hold on. Why shouldn't the responsible and frugal be forced to bail out the profligate and reckless?

What good are they otherwise?

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Reply 9 - Posted by: Trigger2, 10/1/2012 6:39:11 AM     (No. 8901455)

I suggest Quinn file a lawsuit against the Fed and their policy of keeping interest rates low. Other than the fact that the working public has no say in union benefits (union contributions to political campaigns drives benefits), Bernake's policy of zero interest is one of the main causes pensions are underfunded.

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Reply 10 - Posted by: rockymtnhigh, 10/1/2012 11:32:59 AM     (No. 8902065)

The problem is that people are starting to flee the states with the large deficits because they don't want to pay the high taxes necessary to fund the liabilities. But these are the same people that allowed these deficits to happen so now they will be spreading the liberal thinking to responsible states (look at Colorado).

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Reply 11 - Posted by: NYbob, 10/1/2012 12:28:44 PM     (No. 8902221)

With the current system and current players, they will be 'bailed' out, one way or another. Every one of them, and somehow the largest banks will end up making money from incredible debt.

The designers of global financial ruin are like waiters who become $20 million actors. THEY will be on top of whatever is left when millions are crushed. That's all they care about and they think no matter how bad it gets, they will survive and even thrive.

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