Pensions

Banks - Capitalism - Democrats/Leftists - Economy/Finances - Government - Jobs - Liberals - Pensions - Public Employees Unions - SEIU - Unions - Warner Todd Huston

Pot Calling the Kettle… Unions Say Banks are Corrupt

April 9, 2010 by

-By Warner Todd Huston

The Hill Newspaper is reporting that unions are “amping up” for a battle against America’s big banks when Congress is next in session. Uniopns want Congress to institute financial regulatory reform because they feel that banks need to be “held accountable.”

The first thought that comes to mind is to wonder when Congress will ever hold unions accountable for anything! Perhaps unions should avoid throwing stones in that glass house of theirs!

Service Employees International Union (SEIU) head Anna Burger railed against the “greedy actions of the financial industry” and announced that the SEIU was scheduling protests against banks in San Francisco, Kansas City, Charlotte and on Wall Street.

It is a hoot to see the SEIU saying that other people are “greedy.” Seriously. A union thug railing against other’s greed! It’s just a hypocrisy beyond belief.

The SEIU is also upset at the executive pay of several bankers. One wonders that if the SEIU is so against high salaries, when they will cut the salaries of their own chiefs that make hundreds of thousands, if not millions, of dollars a year?
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Pot Calling the Kettle… Unions Say Banks are Corrupt”

Budget - Chicago - Democrats/Leftists - Economy/Finances - Elections - Illinois - Illinois State Government - Pensions - Public Employees Unions - State Government - Taxes - Warner Todd Huston

PROillinois: New Pension Plan Idea Debuts

March 30, 2010 by

MADIGAN PENSION BRIDGE NOT FAR ENOUGH

PROillinois New Grassroots Campaign to Unshackle Local Governments From Unfunded State Pension Mandates

(March 30 – Northbrook, IL) Runaway government employee pension costs is the hot topic, with average taxpayers and the press starting to take notice of this looming public finance disaster. A more dramatic, yet simple pension reform effort known as “the PROillinois plan” is gaining momentum, and is being promoted by a grassroots group of Illinois residents and local government leaders who want to put an end, once and for all, to the unworkable Springfield practice of dictating to local governments the retirement benefits paid to local government employees.
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PROillinois: New Pension Plan Idea Debuts”

Anti-Americanism - Budget - Chicago - Democrats/Leftists - Economy/Finances - Government - Illinois - Illinois Policy Institute - Illinois State Government - Jobs - Liberals - Pat Brady - Pensions - Public Employees Unions - SEIU - Socialism - State Government - Taxes - Teachers Unions - Unions - Warner Todd Huston

Fox News Chicago Digging Deeper on Illinois Pension Mess

March 26, 2010 by 1 Comment

-By Warner Todd Huston

My friend Lennie Jarratt was featured on Fox News Chicago last night. The subject was the $85 billion dollar deficit that the Illinois finds its public employee pensions confronted with. Fox News reports that every Illinois citizen would have to fork over $6,600 to instantly solve the problem. And what has caused this problem? Unions.

Lennie has some great lines in this piece and he’s right on. He is right that education in America has become “legalized theft.” Here are some of his main points:

  • Getting a public sector job is like hitting the lottery
  • The way schools levy is legal theft
  • We have the highest property taxes in the Midwest
  • Nearly all of the top 50 public sector pensions in IL are educators
  • Killing jobs and forcing people to leave the state further cutting state revenue
  • Within 4-6 years most public sector retirees are making more than when working

Illinois isn’t the only state in this union-made morass. Nearly every state in the union is in this mess.
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Fox News Chicago Digging Deeper on Illinois Pension Mess”

Barack Obama - Budget - Democrats/Leftists - Economy/Finances - Government - Jobs - Liberals - Pensions - President - Public Employees Unions - Stimulus - Taxes - Unions - Warner Todd Huston

Obama Forcing Gov’t Costs to Rise With Union Sop

March 22, 2010 by

-By Warner Todd Huston

Here we are in an economic downturn and Barack Obama is forcing government costs to rise. The Detroit News has noticed it, too, with a recent editorial on Obama’s absurd “responsible contractor” rule on vendors that contract with the federal government.

This new rule would force all vendors that contract with the government to exist under union rules, union pay scales, and union pensions, whether they belong to a union or not. Even entities that are not unionized will be forced to observe union rules if this plan is implemented.
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Obama Forcing Gov’t Costs to Rise With Union Sop”

Budget - Crime - Democrats/Leftists - Economy/Finances - Liberals - Oregon - Pensions - Public Employees Unions - State Government - Taxes - Unions - Warner Todd Huston

Firefighters Union ‘Sticks it’ to the City of Portland

March 17, 2010 by

-By Warner Todd Huston

The Oregonian has a disheartening story proving once again why public employees unions should be outlawed.

Here we have a case of a criminal fireman who ripped off the city through a false claim of being injured and unable to work, he admits his guilt and doesn’t press the city for more benefits, yet the union DOES take the city to court to get undeserved benefits for this layabout fireman!

For 12 years fireman Tom Hurley ripped off the city of Portland’s fireman’s disability fund by receiving monthly checks of $3,200 at the taxpayer’s expense despite that he really wasn’t disabled. In fact, he took the city’s money and put himself through cooking school and then went to work in the food service industry. All paid for by the taxpayers.

And when the city finally wised up and cut him off from the honey pot, even Hurley didn’t appeal the decision. He just shrugged his shoulders and moved forward with his new career as a chef.

But the union would have none of this “end of benefits” business. No, the union wouldn’t move on. The union took the City of Portland to court to force the city to keep paying this former fireman scam artist. The union wants the city to pay this layabout fireman $103,000 in “lost” disability payments.

The city is claiming it wants to “go to war” over this whole thing. Let’s hope they do and let’s hope they win. This union ripoff of the taxpayers is unconscionable.
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Firefighters Union ‘Sticks it’ to the City of Portland”

AFL-CIO - Anti-Americanism - Barack Obama - Budget - Business - Capitalism - Congress - Democrats/Leftists - Economy/Finances - EFCA - Elections - Government - Liberals - Media - Pensions - Public Employees Unions - SEIU - Taxes - Teachers Unions - Unions - Warner Todd Huston

A Couple of Union Stories in the News

March 13, 2010 by 1 Comment

-By Warner Todd Huston

Three interesting stories on unions have hit the media this week that should be watched.

#1- Bush’s Union Transparency Rules Retracted Under Obama

The Washington Times reports that Obama is still giving favors and pay back to Big Labor. This time Obama is eliminating the transparency rules that Bush had put in to try to keep unions honest and legal. Saddly, Obama doesn’t care much if unions are held to the rule of law.
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A Couple of Union Stories in the News”

Budget - California - Campaign Finance - Communism - Democrats/Leftists - Economy/Finances - Elections - Free Trade - Government - House of Representatives - Liberals - Lobbyists - Media - Media Bias - Pensions - Public Employees Unions - SEIU - Senate - Socialism - State Government - Taxes - Unions - Warner Todd Huston

Unions Top the $1 Billion Club in California Political Spending

March 11, 2010 by

-By Warner Todd Huston

The California Teachers Association spent $211,849,298 on lobbying and political spending to get its way in California in 2009. Along with the CTA, the Calif. State Council of Service Employees and 13 other organizations spent a total of one billion dollars on political lobbying of the State House at Sacramento. All of these special interests have helped push California to the brink of insolvency.

But, according to the California Fair Political Practices Commission, the two unions mentioned above far and away top the spending of the other top lobbying spenders in California. The next closest in spending was the Big Pharma clocking in at $104,912,997 on its political spending with various and sundry Indian casino groups whose spending was in the less than $85,000,000 range.

Commission Chairman Ross Johnson said in a press release, “This tsunami of special interest spending drowns out the voices of average voters and intimidates political opponents and elected officials alike.”
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Unions Top the $1 Billion Club in California Political Spending”

Budget - California - Capitalism - Democrats/Leftists - Free Trade - Government - Illinois - Jobs - Liberals - Media - Pensions - Public Employees Unions - Socialism - State Government - Taxes - Teachers Unions - Unions - Warner Todd Huston

Liebau on Unions: ‘The System is Unsustainable’

March 10, 2010 by

-By Warner Todd Huston

Carol Platt Liebau posted a piece on RealCleaPolitics.com that also clangs the warning bells over the unsustainable situation that the various states find themselves in between their public employees unions and the states’ fiscal obligations. She focuses on California, but nearly every state in the union is quickly approaching the mess California is in.

Liebau writes of the effort that the teachers union in California led to get kids as young as five-years-old out of school so that they could be bussed to the state capitol in Sacramento in order to protest school budget cuts. Me, I think she races by this outrage too quickly.
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Liebau on Unions: ‘The System is Unsustainable’”

Budget - Chicago - Cook County - Democrats/Leftists - Illinois - Illinois State Government - Jobs - Liberals - Pensions - Public Employees Unions - State Government - Taxes - Unions - Warner Todd Huston

Dear Chicago Taxpayer, You Owe Us a Pension so Pay Up

March 8, 2010 by

-By Warner Todd Huston

The Civic Federation is reporting that every Chicago resident is on the hook for 444 percent more in unfunded retirement pension benefits to city workers than they were a decade ago.

The watchdog Civic Federation said Monday that the funding deficit for the 10 largest Chicago-area public pension funds soared from $3.4 billion in 1998 to $18.5 billion in 2008, the last year for which figures are available.

This is the fault of both politicians for spending the money instead of investing it as well as unions for “negotiating” ever higher and undeserved benefits with each new contract.

But no matter who is at fault, I’d guess that all the perpetrators imagine that the federal government should bail them out when the inevitable collapse arrives.

That way neither the unions nor the profligate democrat politicians will ever have to pay any substantive price.

Only one problem: the US government doesn’t have the cash or credit, either.

I foresee the collapse of pensions all across the county and millions of people that thought they had retirement available for them will find out that it doesn’t exist. A major mess will soon come to town and no one can prevent its arrival.

Both rank and file Democrats and their unions and politicians deserve all the pain coming their way, too.
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Dear Chicago Taxpayer, You Owe Us a Pension so Pay Up”

Budget - Capitalism - Communism - Democrats/Leftists - Economy/Finances - Jobs - Liberals - Pensions - Public Employees Unions - Socialism - Taxes - Warner Todd Huston

The Coming Union Pension Plan Collapse

March 8, 2010 by

-By Warner Todd Huston

At the blog YidWithLid.blogspot.com Sammy Benoit has posted an interesting piece about the mess befalling so many failing union pension funds across the nation. The post includes a very useful chart that shows the trouble in which some of the largest union pension funds find themselves.

The upshot is that these pensions are on the verge of total collapse which will leave millions of retiring union members and those already retired bereft of the pensions that they had assumed would carry them into their golden years.

The list is extremely scary. This is a disaster for many people. But what is the solution? Naturally the unions are hoping that government is the solution. But the problem with a government bailout is that should a bailout happen the unions will not learn the important lesson that they should learn from the necessary collapse, necessary to reign in their excess. Sadly, many will be hurt by this reigning in of unions, but these same members should never have allowed their unions to get so out of hand in the first place!

So, courtesy of YidWithLid…
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The Coming Union Pension Plan Collapse”

Barack Obama - Budget - Democrats/Leftists - Elections - Jobs - Liberals - Media - Media Bias - Pensions - President - Public Employees Unions - SEIU - Taxes - Warner Todd Huston

Three Current Union Stories

March 5, 2010 by

-By Warner Todd Huston

Shuffling through the web I see a few current stories that might be of interest to union watchers everywhere…

Pennsylvanians awoke today to a tale from Investor’s Business Daily headlined, “Specter Tells Business He’ll Back Pro-Union Card Check.”

Apparently Benedict Arlen is a yes vote for cloture on the pro-union card check legislation. Not much of a surprise as he’s been very pro-union since his sudden switch to the Democrat Party last year.
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Three Current Union Stories”

Budget - Business - Chicago - Democrats/Leftists - Illinois - Liberals - Pensions - Public Employees Unions - SEIU - State Government - Taxes - Teachers Unions - Warner Todd Huston

Pension Failure in Illinois Worst in Country

February 19, 2010 by 2 Comments

-By Warner Todd Huston

According to the Pew Center on the States, Illinois’ public employee’s pension system is in the worst shape of all states. The Associated Press reported that pensions in Illinois are underfunded and over promised.

Illinois was rated the most troubled pension system during the study period, with a 54 percent funding level and a total liability of more than $54 billion.

Proof once again that public employee unions are antithetical to good government. The reasons these pensions are in such poor shape are twofold. One is that they are far, far too generous (fault: unions) and two is that even when the money does go into these accounts the state legislature raids the funds for general usage (fault: politicians). Both reasons are failures of government.

What this state needs to do first thing is to start a two tiered system. Since the pensions are protected by law, we need to accept that we are saddled with current pensions. But any new employee and all employees not yet vested should have their undeserved benefits massively cut.

The state should also look to offer as many buyouts at lower costs as it can. Early retirements might help the bottom line, too.

But taking care that future benefits are not so undeservedly high is the most important thing here.
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Pension Failure in Illinois Worst in Country”

Budget - Business - Capitalism - Congress - Democracy - Democrats/Leftists - Economy/Finances - Free Trade - Government - Jobs - Liberals - Pensions - Public Employees Unions - Taxes - Warner Todd Huston

Status of Obama’s PLA Order

February 14, 2010 by

-By Warner Todd Huston

CNSNews did a story today giving an update on Obama’s Executive Order number 13502 requiring all federal construction projects to operate under Project Labor Agreements (PLAs). Thus far the EO has been stymied by the commission that Obama set up to handle the initiative.

A PLA is a contract agreement that would force union rules, union dues, and union control of any construction project that the federal government undertakes. The PLA rules would even descend upon any non-union labor hired for the work meaning that employees would be forced to pay dues even if they do not belong to a union.

This PLA requirement is only another Obama payoff to unions and the construction industry says that PLAs will make any federal project go over budget, take longer to complete making the projects needlessly expensive.
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Status of Obama’s PLA Order”

Barack Obama - Budget - Business - Congress - Democracy - Democrats/Leftists - Elections - Government - Jobs - Pensions - Public Employees Unions - SEIU - Socialism - Taxes - Unions - Warner Todd Huston

How To Become a Millionaire Easy: Become a Gov’t Worker

February 14, 2010 by

-By Warner Todd Huston

Having trouble making ends meet? Eating your meals from a dog food can? Lost your job, seen your retirement accounts dwindle or disappear, having a hard time getting work? Millions of Americans are facing these problems. Some, however, aren’t. And those some are government workers, apparently. Unionized government workers at that.

Doug Ross has a very startling post at his website that really brings this home in stark and easy to grasp numbers. Under the rubric of “How’s this for an investment” Ross gives us the following:

You pay a total of $124,000 into your pension plan and, upon retiring at age 49, you receive $3.3 million in pension payments and $500,000 in health care benefits. You receive $3.8 million in total on a $124,000 investment.

You pay a total of $62,000 towards a pension plan and absolutely nothing for health care (medical, dental and vision coverage) over your working career. Upon retirement, you are paid $1.4 million in pension and $215,000 in health care benefits. You receive $1.6 million on a $62,000 investment.

This is what happens when you work for the State of New Jersey as Ross discovered.
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How To Become a Millionaire Easy: Become a Gov’t Worker”

Barack Obama - Business - Capitalism - Elections - GOP - Jobs - Pensions - President - Republicans - SEIU - Taxes - Warner Todd Huston

Another Voice Agrees With Us: Gov’t Unions Are Un-American

February 10, 2010 by

-By Warner Todd Huston

Yeah, I know… it’s like a broken record around here. But, here is another voice coming to our side to agree with us that public employees unions are antithetical to good government, wholly un-democratic, and, therefore, quite un-American. This time it’s the well-regarded Michael Barone echoing our mantra.

Barone is one of the best political reporters in the country and in his own inimitable way has jumped on the anti-union bandwagon (not that he never has in the past, just that this piece is particularly on par).

Before he gets to government unions, one of his points is that unions aren’t even needed in the private sector anymore because all the evils that employers perpetrated in the days of yore have now been regulated away by governments and laws. Because of an active government unions just aren’t needed to protect workers anymore, says Barone. It is a good point, after all.
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Another Voice Agrees With Us: Gov’t Unions Are Un-American”

Anti-Americanism - Barack Obama - Business - Capitalism - Communism - Congress - Democrats/Leftists - Free Trade - Jobs - Journalism - Media - Media Bias - Newspapers - Pensions - SEIU - Senate - Socialism - Taxes - Unions - Warner Todd Huston

How Media Chooses Words Adds to Bias

February 9, 2010 by

-By Warner Todd Huston

The Politico had a story about Big Labor penned by Jeanne Cummings, the reporter famed for going after Sarah Palin’s Party purchased wardrobe during the 2008 presidential campaign, that was an object lesson in Old Media bias. Her piece headlined “Labor helps kill its own top priority” is a great example of using language to subtly shade the arguments, in this case those of Big Labor, to elicit a positive view of the ideology contained in the issue. Her piece very subtly shades the goals of Big Labor in a positive light easily giving the reader a feeling that Big Labor’s goals are good and noble and is a perfect example of how the media creates emotional appeal for the left’s actions.

Because it is such masterfully crafted example of subtle bias, it deserves to be studied closely.

Cummings Begins her propping up of Big Labor by saying that Scott Brown’s win in Massachusetts is “bad news for health care” and will mean that Republicans can “block the Employee Free Choice Act,” and so she immediately casts the possible actions of the GOP in a negative light at the outset. “Bad news for health care”? It is said as if the GOP was against “health care.” It isn’t. And of course “block” is certainly a negative action. In any case, she started by shrouding the GOP in negativity right away.
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How Media Chooses Words Adds to Bias”

Budget - Business - Capitalism - Economy/Finances - Education - Government - Jobs - Liberals - Lobbyists - Pensions - Taxes - Teachers Unions - Unions - Warner Todd Huston

Why Unions Are Dangerous in Education

February 8, 2010 by 3 Comments

-By Warner Todd Huston

One would think that a teacher that had 30 some years ago allegedly impregnated a 16-year-old student, a few years later sexually accosted two 12-year-old students, and was accused of molesting yet another student four years after that, would be out on his ear never to teach or be allowed around children again.

But the New York teachers union would beg to differ.

In fact, the union has differed so much that troubled teacher Francisco Olivares has been continually paid his $94,154 a year salary even though he’s been kept from the classroom for the last seven years.

So, who cares what the union says about this guy? Unfortunately, the union’s resistance to getting rid of him is enshrined in state law. The school can’t get rid of this dead weight either.

As a result, because the school can’t fire him and the union won’t let them, Olivares sits day in and day out in what is called a “rubber room” getting paid his full salary. That is getting paid his fall salary courtesy of the taxpayers of New York.
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Why Unions Are Dangerous in Education”

Anti-Americanism - Business - Capitalism - Democrats/Leftists - Elections - Jobs - Liberals - Lobbyists - Pensions - SEIU - Taxes - Unions - Warner Todd Huston

Wall Street Journal Echoing The Blog

February 3, 2010 by

-By Warner Todd Huston

That’s right, it’s time to do the happy dance. Our drum beat of unions being antithetical to good government has, today, been echoed by the Wall Street Journal in an editorial board piece titled “The Public-Union Ascendancy.”

OK, OK, I am not silly enough to imagine that the WSJ is hanging on every word we here at the blog say — though I was told by John Fund a few months ago when we met in Chicago that he has read a lot of my work — but it is still good to see that we aren’t the only ones thinking along these lines.

The Journal has some interesting states to report on the increase in public sector leeches… um, I mean unions… and makes the salient point that it isn’t good.

The money paragraph sounds like something I’ve written a dozen times:
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Wall Street Journal Echoing The Blog”

Anti-Americanism - Business - Capitalism - Congress - Democracy - Democrats/Leftists - Economy/Finances - Elections - Free Trade - Freedom - GOP - Government - Liberals - Pensions - Rights - SEIU - Senate - Society/Culture - Taxes - Unions - Warner Todd Huston

Heritage: Unions Ate Your Raise

January 31, 2010 by

-By Warner Todd Huston

James Sherk has a very good post over at the Heritage Foundation’s The Foundry blog about how unions have hurt us all by fighting for tax increases.

Unions almost never go on strike anymore. Instead, they fight to get more for their members by lobbying for tax increases. Unions spent tens of millions of dollars last year campaigning for higher taxes across the country: Illinois. California. Minnesota. Washington State. Arizona. In many cases they have succeeded.

Nearly every day now we are visited with more proof of how public employees unions are a danger to this country and Sherk has shown us yet another example.

Sherk reports that in Oregon the public employees unions spent $700 million dollars to increase taxes on the people of Oregon. The unions wanted higher taxes to protect their undeservedly high salaries and rich benefits while the regular folks of the Beaver State lost jobs, had their pay cut, and were generally finding hard times — like the rest of normal, non-government worker America.

Not only are unions working against the best interests of the voters, but they are also working to allow out-of-control spending and irresponsibility in government to grow.

Unions are not only antithetical to good government, they are dangerous to our individual prosperity.
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Heritage: Unions Ate Your Raise”

Budget - California - Economy/Finances - Government - Jobs - Journalism - Liberals - Media Bias - Pensions - SEIU - State Government - States - Taxes - Warner Todd Huston

Public Employees Unions Are Sinking California, Part 2

January 27, 2010 by 1 Comment

-By Warner Todd Huston

(Editor’s note: Some of this I posted earlier this month, but this is an expanded version that was just posted by BigJournalism.com, so I thought I’d go ahead and post it here, too.)

Steven Greenhut has an interesting piece in the Wall Street Journal about how the evils of public employees unions are destroying California’s budget and economy.

Greenhut begins by noting that with one of the highest unemployment rates in the country, California is losing its “productive citizens” to other states but is still saddled with an economy killing surfeit of public employees unions that, “drive costs up and fight to block spending cuts.”

Greenhut goes on to report that the unfunded pensions that California is stuck with has increased by 2,000% in the last decade because of the overweening power of the unions.

Approximately 85% of the state’s 235,000 employees (not including higher education employees) are unionized. As the governor noted during his $83 billion budget roll-out, over the past decade pension costs for public employees increased 2,000%. State revenues increased only 24% over the same period. A Schwarzenegger adviser wrote in the San Jose Mercury News in the past few days that, “This year alone, $3 billion was diverted to pension costs from other programs.” There are now more than 15,000 government retirees statewide who receive pensions that exceed $100,000 a year, according to the California Foundation for Fiscal Responsibility.

That is an absurd reality!
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Public Employees Unions Are Sinking California, Part 2″

Business - Chicago - Communism - Cook County - Democrats/Leftists - Economy/Finances - Elections - Free Trade - Illinois - Jobs - Journalism - Liberals - Newspapers - Pensions - Socialism - State Government - Taxes - Unions - Warner Todd Huston

Chgo Trib: Who Will Smack Down the Unions?

January 27, 2010 by

-By Warner Todd Huston

Dennis Byrne, a columnist with the Chicago Tribune, has a great piece asking the seminal question: what politician will take on the public employees unions?

This is, of course, the question we’ve been asking here for years! Who will stop these union thugs that have bought for themselves a bevy of compliant politicians at the state and federal level who will do their bidding against the best interests of the voters? What politician will step up and cut these thug’s illicit power down for the good of the people?

Seeing as how he is an Illinois columnist, Byrne centers his discussion on the $80 billion shortfall that Illinois’ public pensions are saddled with, but he can just as easily be talking about California, Oregon, Wisconsin, New York or any other state in the Union.

To quantify the $80 billion, Byrne tries to put it in context:
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Chgo Trib: Who Will Smack Down the Unions?”

Budget - Business - Economy/Finances - Jobs - Liberals - Pensions - Socialism - State Government - Taxes - Unions - Warner Todd Huston

Union Membership Down Another 10%

January 25, 2010 by 1 Comment

-By Warner Todd Huston

With some ups and downs, unions have been steadily losing members for quite a while and 2009 is no exception. According to the Labor Dept., private-sector unions lost 834,000 members last year.

On Friday, the Labor Department reported private-sector unions lost 834,000 members, bringing membership down to 7.2% of the private-sector work force, from 7.6% the year before. The broader drop in U.S. employment and a small gain by public-sector unions helped keep the total share of union membership flat at 12.3% in 2009. In the early 1980s, unions represented 20% of workers.

The Wall Street Journal also notes that it isn’t likely that the union jobs lost will come back as union jobs if they ever come back at all.

But the Journal doesn’t stress the most important union fact nearly enough. Unions that serve government workers in still on the rise and form the largest section of union workers.
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Union Membership Down Another 10%”

Anti-Americanism - Budget - Business - California - Democrats/Leftists - Economy/Finances - Health - Jobs - Liberals - Pensions - Society/Culture - State Government - Taxes - Unions - Warner Todd Huston

Public Employees Unions Are Sinking California

January 23, 2010 by

-By Warner Todd Huston

Steven Greenhut has a great piece in the Wall Street Journal about how the evils of public employees unions are destroying California.

Greenhut begins by noting that with one of the highest unemployment rates in the country California is losing its “productive citizens” to other states but is still saddled with an economy killing surfeit of public unions employees that “drive costs up and fight to block spending cuts.”

Greenhut goes on to report that the unfunded pensions that California is stuck with has increased by 2,000% in the last decade because of the overweening power of the unions.
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Public Employees Unions Are Sinking California”

Budget - Business - Chicago - Cook County - Democrats/Leftists - Economy/Finances - Illinois - Illinois Policy Institute - Pensions - State Government - Taxes - Warner Todd Huston

Illinois Policy Institute: About Those Attacks on Our Pension Idea

January 22, 2010 by 1 Comment

This week, we released our Pension Funding and Fairness proposal, which offers a groundbreaking solution to our state’s growing pension funding crisis. Our proposal provides a path to fund the system, which now faces a whopping $83 billion in unfunded liabilities, without breaking the bank.

Our plan has received considerable media attention—and some criticism. Greg Hinz of Crain’s Chicago Business summed it up well. The Institute “rolled out its vision of how to close an $80-billion-plus gap in Illinois’ employee pension plans,” he wrote, “and, though portions will offend just about everybody, it’s worth a look…This is a serious report that offers a good starting point for some much needed discussion.”
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Illinois Policy Institute: About Those Attacks on Our Pension Idea”

Budget - Business - Chicago - Constitution - Democrats/Leftists - Economy/Finances - Free Trade - Illinois - Illinois Alliance For Growth - Illinois Policy Institute - Pensions - Society/Culture - State Government - Taxes - Unions - Warner Todd Huston

Dueling Illinois Policy Groups: IAFG Smacks Around the IPI

January 22, 2010 by 1 Comment

-By Warner Todd Huston

The Illinois Policy Institute recently released its recommendations for how Illinois could fix its pension mess. Titled the Pension Funding and Fairness Act, the IPI assures the state that this is the answer to its pension problems. Despite that assurance, another Illinois policy group begs to differ. In an Illinois policy group head-to-head smack-down the Illinois Alliance for Growth* has published a critique of the IPI proposal resulting.

One of the proposals in the IPI plan is for Illinois to borrow $20 billion to tide the pensions over while the state legislature makes the needed adjustments to the pension laws. IPI Director Jim Tillman is saying that his plan is a case of “responsible borrowing” a claim that the IAFG finds risible.
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Dueling Illinois Policy Groups: IAFG Smacks Around the IPI”