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« He Does Know Disasters | Main | Why, Oh Why, Oh Why, Oh? »

Friday, April 14, 2006

Comments

Cal Skinner

Let's see. Borrowed $10 billion. Used to owe $43 billion. Now owe $35 billion.

What's wrong with this picture?

Bettie

What's actually "wrong" with "this picture" is that the 1995 pension funding plan deliberately underfunds the pensions every year thru 2034. That's why the pension debt will continue to go up, despite the influx of cash that Blago has put into the pensions. Of the $10 b pension bond, about $7.5 b went directly to the pensions and the rest went to pay for the annual contribution. Accuracy please. :)

Ex-Newfie

If this keeps up, I predict the governmental equivalent of the "blue flu" is going to strike state agencies. They have put up with a lot since this administration has taken over, being called lazy and incompetent among other things. Add being lied to and having their integrity impuned by the demand that they must take ethics training each year, when no lobbiest or campaign contributor is taking them to lunch or on vacation. There is only so much a grown adult can take and then they blow.

GPSIBOY

As a grad student working as an intern in an Illinois agency, I can assure you that most state employees really are lazy and incompetent. Don't fool yourselves, stateworkers, most of you were hired as young babyboomers by Governor Thompson in order to ensure a solid downstate voting block, and you've spent the last 30 years effectively on the patronage dole. Congrats -- you've bled us dry.

C. Davis

The only solution for this serious problem is to change the retirement benefit for public employees from a defined benefit plan to a defined contribution plan--like most private sector employees receive. This could be done over time so that older employees would not lose the benefits they were promised. Any other pension "reform" would be meaningless. The taxpayers of Illinois deserve to have the holes in this dike plugged forever!

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