|
Post by sd51555 on Jun 30, 2017 9:48:10 GMT -6
That whole economic theory falls apart when you add back the crime and special education costs that also come with it.
|
|
|
Post by Freeborn on Jun 30, 2017 10:04:43 GMT -6
Illinois, Puerto Rico, and it goes on and on. Gentleman, keep digging in your pockets as you will pay for it via our federal government. (Til we realize we are broke) If you have an old farm site, you better start digging and hope to find an old cream can. One of the primary issues with the debt load on state governments is the pension liability. Wisconsin residence might choke on this but Scott Walker had it right when he said "Collective Bargaining was Broken" when it came to government unions. At the end of the day unions have professional negotiators who negotiate their contracts why government officials have no clue what they are doing. Most politicians don't want to get into a public fight and instead want to settle immediately. This results in the unions often winning concessions and over many years makes for a very lucrative agreement for government unions. In some states like Illinois and California some former employees make more money retired than working.
What needs to happen is these pensions need to be re-negotiated so they match what is in the private sector. If this happened it would go a long way to help states with their debt liability. Only problem is any politician who brings it up will be DOA next elections as the union members will go Ape over any cuts.
|
|
|
Post by Reagan on Jun 30, 2017 10:21:50 GMT -6
Illinois, Puerto Rico, and it goes on and on. Gentleman, keep digging in your pockets as you will pay for it via our federal government. (Til we realize we are broke) If you have an old farm site, you better start digging and hope to find an old cream can. One of the primary issues with the debt load on state governments is the pension liability. Wisconsin residence might choke on this but Scott Walker had it right when he said "Collective Bargaining was Broken" when it came to government unions. At the end of the day unions have professional negotiators who negotiate their contracts why government officials have no clue what they are doing. Most politicians don't want to get into a public fight and instead want to settle immediately. This results in the unions often winning concessions and over many years makes for a very lucrative agreement for government unions. In some states like Illinois and California some former employees make more money retired than working.
What needs to happen is these pensions need to be re-negotiated so they match what is in the private sector. If this happened it would go a long way to help states with their debt liability. Only problem is any politician who brings it up will be DOA next elections as the union members will go Ape over any cuts.
Walker survived it. I understand he may not be too popular with a lot of folks but he did what had to be done with the unions.
|
|
|
Post by sd51555 on Jun 30, 2017 14:57:34 GMT -6
In reality, the rank and file union need to be pushing back on their bosses. Inside their ranks, they will eventually figure out the older guys are gonna collapse the system before they ever get their chance to collect. It's not the older guys' fault either. The guys swinging the hammer and driving the truck didn't create the mess. But regardless, the stakeholders need to start giving a shit. Their boat is sinking and they need to start worrying about plugging the holes instead of hoping a life boat is on the way, because the guys on the life boat need to figure out how to plug their holes as well.
|
|
|
Post by sd51555 on Jun 30, 2017 20:03:30 GMT -6
"Legislators in 11 states were still working on their budgets as of Thursday afternoon that are set to take effect July 1st." (As of now, it looks like it's down to 5 that still have work to do. Alaska, Illinois, Washington, Pennsylvania, and Michigan.)www.nytimes.com/2017/06/29/us/illinois-state-budget-impasse.html"And in perhaps the most visible and immediate sign of the pressure on Illinois leaders to solve their budget standoff at long last, the multistate lotteries — Mega Millions and Powerball — are to be suspended."
"But Illinois’s dysfunction is different, a model of all that can go wrong. Along with unpaid bills and a longstanding fight over education funding, the pension system is among the most underfunded in the nation. Illinois also has one of the most explicit constitutional pension guarantees of any state, which makes solving the problem more complicated."
|
|
|
Post by sd51555 on Jun 30, 2017 20:14:45 GMT -6
A good read on the pension crisis. www.nytimes.com/2015/05/26/us/politics/illinois-pension-crisis.html"The state faces a range of problems. Illinois has one of the worst-funded pension systems in the nation. Chicago also has a pension crisis, leading Moody’s Investors Service to downgrade its credit rating to junk status on May 12, potentially threatening the city’s ability to borrow."
"...the new Republican governor, who ran on cutting costs and holding down taxes, is at odds with Democrats who hold a veto-proof supermajority in the legislature."
"Illinois has one of the most explicit constitutional pension guarantees of any state. The State Supreme Court found that the landmark plan was unconstitutional, and interpreted the clause in a way that protects even benefits that current public workers have not yet earned, as well as cost-of-living adjustments for retirees."
"But the Illinois public pension system is at or near the bottom of national rankings. Standard & Poor’s Rating Services said in 2014 that the Illinois system was last among state systems, with just 40 cents available for every dollar of promised benefits."
"Others say the pension ruling takes benefit changes off the table and means that the government must pay what has been promised even if it means tax increases and spending cuts."
"Illinois is racing to settle on a budget for the fiscal year that starts July 1, and pension costs are estimated to consume as much as a quarter of general fund spending — an unusually high share and a sign of real trouble."
|
|
|
Post by Foggy on Jul 1, 2017 6:55:09 GMT -6
Dem's are a contagious cancer. They destroy their host then move on to other healthy places spreading the disease.
The problem for us is that sooner or later they will ask/need the Fed's to take over their problem and bail 'em out. Kinda like health care.....the Fed had to get involved in what should have remained a State funded issue. Thus....it will bring everyone down if we continue down this path.
|
|
|
Post by sd51555 on Jul 2, 2017 14:13:38 GMT -6
|
|
|
Post by MoBuckChaser on Jul 3, 2017 19:43:42 GMT -6
ILL approves a 32% tax hike for one year to balance budget. They should be shot!
|
|
|
Post by biglakebass on Jul 3, 2017 19:51:13 GMT -6
|
|
|
Post by kabic on Jul 3, 2017 20:07:46 GMT -6
Looks like their House passed but their governor (R) said he would Veto if it passed the Senate
|
|
|
Post by sd51555 on Jul 3, 2017 20:09:27 GMT -6
"The state House on Sunday voted to raise the state's income tax rate to 4.95% from 3.75% for individuals and to 7% from 5.25% for corporations."www.clickorlando.com/news/politics/illinois-inches-toward-budget-as-downgrade-fears-loomI don't think the governor can do shit to stop it either. Pending real reforms, their issues will continue to worsen. Business and people of means will begin to quietly exit the state before the cannibalism really ramps up. Business hates uncertainty. They can raise taxes all they want, they can't grow fast enough for the increased revenue to keep pace with their spending.
|
|
|
Post by MoBuckChaser on Jul 3, 2017 20:13:19 GMT -6
Its the toilet bowl swirl. Starts out slow at first, picks up speed, and takes anything good or bad down the drain eventually. That state is done!
|
|
|
Post by kabic on Jul 3, 2017 20:14:06 GMT -6
"The state House on Sunday voted to raise the state's income tax rate to 4.95% from 3.75% for individuals and to 7% from 5.25% for corporations."www.clickorlando.com/news/politics/illinois-inches-toward-budget-as-downgrade-fears-loomI don't think the governor can do shit to stop it either. Pending real reforms, their issues will continue to worsen. Business and people of means will begin to quietly exit the state before the cannibalism really ramps up. Business hates uncertainty. They can raise taxes all they want, they can't grow fast enough for the increased revenue to keep pace with their spending. WWisconsin's rate is higher than that and we have brackets not a flat rate.
|
|
|
Post by biglakebass on Jul 3, 2017 20:16:37 GMT -6
why am I expected to work within my means(budget) and government isnt? I just dont understand that basic principal.
No need to answer. Its just what always hits me first when I see all this BS.
|
|