Good job Democrats run Illinois into the ground

a reply to: rickymouse

You're not really making a good point.

When people are on assistance, that money goes back into their local economies.

originally posted by: six67seven

originally posted by: carewemust
If the State doesn't come up with a budget by Friday June 30th, it will be downgraded to "JUNK" status, and have to shut down the state lottery.

Come up with a budget?!?!!?

What in the hell difference does a budget make if they cant manage their money?? Thats what their governor just admitted.

Theres no saving them until you rid Illinois of "them"

Standard and Poors says that if a budget is arrived at before July 1st, they will not lower Illinois's rating to "Junk" status.

At "junk" Illinois would no longer be able to borrow money (as it's done for many years) to pay employees, retirees, nursing homes, etc..

a reply to: carewemust

Can an entire state declare bankruptcy like?

originally posted by: Kettu
a reply to: rickymouse

You're not really making a good point.

When people are on assistance, that money goes back into their local economies.

The local economy is gaining way more than the person on assistance, yet people complain about the people getting assistance. The money really does not go to the poor, I guess that is a bad point. The state cannot keep supporting the local economies so much without collecting more taxes. And, some of all of that money always flows up to the top five percent in this country.

originally posted by: carewemust
My wife took early-retirement from the Illinois Education system in 2016. The state felt that "buying out" the higher paid teachers would save the system. WRONG! For the first time, retired teachers are starting to get a little worried, even though the state has run a deficit for decades.

There are a few states like that...

The question about a pension plan is did your wife contribute to it over the years?

If your employer offers a pension, they can decide to terminate it. In such a situation your accrued benefit usually becomes frozen; meaning you will get whatever you've earned up to that point, but you cannot accumulate any additional pension income.

In a 401k an employer will doing matching such as if you put in 8% they will match 4% on that, not a bad deal.... Pensions is something that unions pushed in the past, something that sooner or later someone needs to pay the Piper and that is when they fail. For private business like the car industry it reached a point they just could not afford it and stay in business, with the government that doesn't need to make profit there is an endless stream of money for the Government/Military pensions, but we need to ensure that we do not have too many to payout or we end up like Greece.

In the end someone working will need to pay for all of this and if you are in Illinois who is left to pay for all that expense?