Pat Quinn floats the idea of a federal pension bailout

[krazen1211]

http://www.heraldonline.com/2012/09/26/4294206/cagw-names-gov-pat-quinn-porker.html

Today, Citizens Against Government Waste (CAGW) named Illinois Governor Pat Quinn (D) its September, 2012 Porker of the Month for suggesting the possibility of a federal bailout for his state’s public sector pension programs, which are among the least funded in America. Gov. Quinn’s fiscal year (FY) 2012 budget (published in 2011), referenced his state’s looming pension problem, stating that “while the pension reform of 2010 improved the situation by decreasing future liabilities … significant long term improvements will come only from additional pension reforms, refinancing the liability and seeking a federal guarantee of the debt, or increasing the annual required state contributions [emphasis added].” When queried about it then, the governor claimed that the inclusion of that bailout language was a “precaution.”




Thankfully, Jim Demint and others are rallying against the bailout of these soon to be deadbeats. Soon, now, the unions are going to be smashed, and Illinois bond ratings are going to plunge into the toilet.


As it stands, in a couple years Illinois will be spending more on pensions than they do on education. This must be what is meant by 'think of the children!!!!'.

Let the lesson be learned!

[Oldiesfreak1854]

I can't wait until Dan Rutherford beats him in 2014.

[後援会]

Oh, it will be so amusing when the pensions actually start to leak water and list.

[Vosem]

I can't wait until Dan Rutherford beats him in 2014.

This. At least Obama's reelection will make 2014 enjoyable.

[I left.]

I can't wait until Dan Rutherford beats him in 2014.

You'll have to wait longer than that.

[Lief]

The feds should obviously bail out all the states completely.

Or let them start printing their own money. Either one.

[patrick1]

Oh, it will be so amusing when the pensions actually start to leak water and list.

Yes, having massive amounts of people reduced to penury would be a real hoot and a holler.

[Link]

http://www.heraldonline.com/2012/09/26/4294206/cagw-names-gov-pat-quinn-porker.html

Today, Citizens Against Government Waste (CAGW) named Illinois Governor Pat Quinn (D) its September, 2012 Porker of the Month for suggesting the possibility of a federal bailout for his state’s public sector pension programs...

So what's your take on the Federal bailouts of the pensions of companies Romney bankrupted?  What award are you giving Romney?

But records show that the mill's Bain-backed management was confronted several times about the fund's shortfall, which, in the end, required an infusion of funds from the federal Pension Benefits Guarantee Corp.

Link.

The outrage is, how shall I say, uneven.

[Oldiesfreak1854]

I can't wait until Dan Rutherford beats him in 2014.

You'll have to wait longer than that.

I don't think so.  If he could get elected State Treasurer even as Quinn was winning, then I think he has potential.

[後援会]

Oh, it will be so amusing when the pensions actually start to leak water and list.

Yes, having massive amounts of peoplean extraordinarily privileged class of individuals reduced to penurya standard of living still vastly superior to the masses they falsely purport to serve would be a real hoot and a holler.

Edits my own, of course.

[krazen1211]

http://www.heraldonline.com/2012/09/26/4294206/cagw-names-gov-pat-quinn-porker.html

Today, Citizens Against Government Waste (CAGW) named Illinois Governor Pat Quinn (D) its September, 2012 Porker of the Month for suggesting the possibility of a federal bailout for his state’s public sector pension programs...

So what's your take on the Federal bailouts of the pensions of companies Romney bankrupted?  What award are you giving Romney?

But records show that the mill's Bain-backed management was confronted several times about the fund's shortfall, which, in the end, required an infusion of funds from the federal Pension Benefits Guarantee Corp.

Link.

The outrage is, how shall I say, uneven.

Nothing, because your comparison is nonsensical. Private companies pay insurance to the PBGC.

More importantly, Romney didn't bankrupt them. Most companies that seek PE infusions are already in financial distress.

[Torie]

Illinois can be bailed out by the rest of the nation after California is, and California has more votes - and more creative dreams of the perfect albeit expensive utopia.  Thank you.

[opebo]

Oh, it will be so amusing when the pensions actually start to leak water and list.

Yes, having massive amounts of people reduced to penury would be a real hoot and a holler.

That's the GOP platform, you know.

[Link]

http://www.heraldonline.com/2012/09/26/4294206/cagw-names-gov-pat-quinn-porker.html

Today, Citizens Against Government Waste (CAGW) named Illinois Governor Pat Quinn (D) its September, 2012 Porker of the Month for suggesting the possibility of a federal bailout for his state’s public sector pension programs...

So what's your take on the Federal bailouts of the pensions of companies Romney bankrupted?  What award are you giving Romney?

But records show that the mill's Bain-backed management was confronted several times about the fund's shortfall, which, in the end, required an infusion of funds from the federal Pension Benefits Guarantee Corp.

Link.

The outrage is, how shall I say, uneven.

Nothing, because your comparison is nonsensical. Private companies pay insurance to the PBGC.

Yeah and employees pay social security insurnace but that doesn't stop Romney and his mindless followers from sh-tting on 47% of this country.

More importantly, Romney didn't bankrupt them.

So you have the financial and accounting expertise and have analyzed every single company Bain was ever involved with during Romney's tenure and concluded that Romney and friends are 100% perfect and didn't bankrupt a single company?!  How's the Koolaid?

[krazen1211]

http://www.heraldonline.com/2012/09/26/4294206/cagw-names-gov-pat-quinn-porker.html

Today, Citizens Against Government Waste (CAGW) named Illinois Governor Pat Quinn (D) its September, 2012 Porker of the Month for suggesting the possibility of a federal bailout for his state’s public sector pension programs...

So what's your take on the Federal bailouts of the pensions of companies Romney bankrupted?  What award are you giving Romney?

But records show that the mill's Bain-backed management was confronted several times about the fund's shortfall, which, in the end, required an infusion of funds from the federal Pension Benefits Guarantee Corp.

Link.

The outrage is, how shall I say, uneven.

Nothing, because your comparison is nonsensical. Private companies pay insurance to the PBGC.

Yeah and employees pay social security insurnace but that doesn't stop Romney and his mindless followers from sh-tting on 47% of this country.

More importantly, Romney didn't bankrupt them.

So you have the financial and accounting expertise and have analyzed every single company Bain was ever involved with during Romney's tenure and concluded that Romney and friends are 100% perfect and didn't bankrupt a single company?!  How's the Koolaid?

Nope. Your posts continue to be nonsensical. First, because the PBGC is not a bailout. Second, because Social Security has nothing in particular to do with Illinois's fiscal blunders. Third, because out of Bain's hundreds of deals during his tenure, perfection is impossible. Fourth, because Romney hasn't taken away anyone's social security.


But I guess when people like you and Quinn want to loot the treasury, you have to distract as you try to fling your sh**t onto the federal taxpayer.

[krazen1211]

Oh, it will be so amusing when the pensions actually start to leak water and list.

Yes, having massive amounts of people reduced to penury would be a real hoot and a holler.

That's the GOP platform, you know.

Your chump has succeeded at that already. Poverty has skyrocketed during this administration.

[krazen1211]

Illinois can be bailed out by the rest of the nation after California is, and California has more votes - and more creative dreams of the perfect albeit expensive utopia.  Thank you.

In California a court appointed receiver was appointed to run the prison health care system. Perhaps something similar might be done to correct Pat Quinn's malfeasance.

[muon2]

Oh, it will be so amusing when the pensions actually start to leak water and list.

Yes, having massive amounts of people reduced to penury would be a real hoot and a holler.

The pension problem can be solved in a straightforward manner without significantly changing the financial plans of those already retired or near retirement. It does take commitment from parties on both sides and for a long duration. Treat it as a math problem and avoid the posturing on both sides that tends to make it a political issue.

[patrick1]

Oh, it will be so amusing when the pensions actually start to leak water and list.

Yes, having massive amounts of people reduced to penury would be a real hoot and a holler.

The pension problem can be solved in a straightforward manner without significantly changing the financial plans of those already retired or near retirement. It does take commitment from parties on both sides and for a long duration. Treat it as a math problem and avoid the posturing on both sides that tends to make it a political issue.

Sure, well let's hope your body can get on that while there is time enough to actually tackle it.  I don't think the prospects of a pension system sinking is altogether very 'amusing' and responded to that theme in kind.  People plan and make their life goals/decisions around the solvency of the system. 

The stereotype that these workers are lazy sops is held by too many on the right flank and that clouds their maths as well.  Certainly it is a two way street. So best of luck.

[Torie]

Quinn doesn't get it, that if any state gets dough, it will be CA, and not his.

[muon2]

The stereotype that these workers are lazy sops is held by too many on the right flank and that clouds their maths as well.  Certainly it is a two way street. So best of luck.

That may be the stereotype, but in IL the attack on the public sector worker has come mainly from the Dems. Witness the protests against Quinn, even during his recent trip to Brazil. The most damaging pension plans to the public retirees have come from the Dem leadership.