Rod Blagojevich

Illinois’ Total Unfunded Liabilities: $275 Billion

The following bit about Illinois’ total unfunded liabilities from a January 28 Investor’s Business Daily editorial was so depressing to read that I originally planned to blog about it much earlier this morning- but needed to step away. From the IBD website:

A recent release by the Illinois Policy Institute shows this [$96.8 billion unfunded debt to five state pension systems] is only the tip of the iceberg and when you add in other liabilities such as $54 billion in unfunded liabilities for retiree health insurance and $15 billion in pension bonds that Gov. Pat Quinn and his immediate predecessor, former Gov. Rod Blagojevich, issued to avoid pension reform, Illinois’ total unfunded liabilities amount to $275 billion, or $58,000 in debt for each and every household in the state.

(Editor’s note: Italics added for emphasis)

So what’s it going to be, Illinois? Since a booming economy seems unlikely to return anytime soon, will the Democrat-dominated Illinois General Assembly finally enact significant spending cuts? Raise fees and taxes through the roof? Throw public sector retirees “under the bus?”

They’re going to have to do something real quick.

Or watch the whole thing unravel.

By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)

Source:

“Obama’s Illinois Downgrade Makes It America’s Greece.” Investor’s Business Daily. 28 Jan. 2013. (http://news.investors.com/ibd-editorials/012813-642237-credit-downgrade-illinois-standard-poors-worst.htm). 31 Jan. 2013.

Tags: , , , , , , , , , , , , , , , , , , ,



Please Rate this Blog HERE



Christopher E. Hill, Editor
9,882 Visits March 2015
560,718 Visits 11/22/10-3/31/15

Limited Time Offers

Via Banner Ads Below (navigate to vendor home page if necessary):
ANY CHARACTER HERE
>BUDK 30% Off Everything Sitewide ($49 min. order; code needed)
ANY CHARACTER HERE
>Nitro-Pak 20% Off Everything Sitewide ($99 min. order; code needed)
ANY CHARACTER HERE
>JM Bullion 5 Oz. Sunshine Mint Silver Bars On Sale (any qty. 89¢ over spot)
ANY CHARACTER HERE
>Food Insurance Sitewide Savings Up To 84% Off FINAL WEEK + Free Shipping On Orders Over $150
ANY CHARACTER HERE
>Airsoft Megastore 25% Off Order Or Free Shipping (codes req.)
ANY CHARACTER HERE
>BulletSafe Bulletproof Baseball Cap $119 Pre-Order Price; Bulletproof Backpack Panel $99
ANY CHARACTER HERE
>My Patriot Supply Survival Seed Vault $29.95
ANY CHARACTER HERE
>Nitro-Pak Save Up To 40% On Emergency Radios
ANY CHARACTER HERE
>Tractor Supply Co. Free UPS Standard Delivery All Orders Shipped To Store (no min. purchase required)
NEW! Advertising Disclosure HERE
ANY CHARACTER HERE
Free UPS ship to store on all Tractor Supply Company orders! Shop now! Tractor Supply Co. Review Coming Soon
ANY CHARACTER HERE
JM Bullion Reviewed HERE
ANY CHARACTER HERE
MyPatriotSupply.com Reviewed HERE
ANY CHARACTER HERE
Nitro-Pak--The Emergency Preparedness Leader Nitro-Pak Reviewed HERE
ANY CHARACTER HERE
Food Insurance Reviewed HERE
ANY CHARACTER HERE
BullionVault BullionVault.com Reviewed HERE
ANY CHARACTER HERE
EMS clearance CHIEF Supply Reviewed HERE
ANY CHARACTER HERE
BulletSafe Reviewed HERE
ANY CHARACTER HERE
Survival Titles Save 20% Paladin Press Reviewed HERE
ANY CHARACTER HERE
BUDK bowie knife BUDK Reviewed HERE
ANY CHARACTER HERE
Shop Pyramyd Air Field Target Products PyramydAir.com Reviewed HERE
ANY CHARACTER HERE
Airsoft Megastore Reviewed HERE
ANY CHARACTER HERE
 

Categories

Archives

Prepper Website