[Cowboy Bob]

But, but, but...how could this happen? It somehow must be the fault of the Republicans! /sarc

[teeman8r]

Never fear, the taxpayers will bail them out as usual

[exit82]

From the Land of Lincoln to the Land of Stinkin’.

I can only imagine the shape NJ is in regarding pensions, as well as many other states.

At what time do we charge the political class with just plain looting?

[tflabo]

Maybe neighbor Gov. Scott Walker could charge them a modest consult fee in expertise on how to run a balanced state budget. Dumping Quinn was a good first step.

[eyeamok]

Can’t they just enslave future generations in perpetual debt to pay for their wants today?

[randita]

Detroit solution - no other way.

[logi_cal869]

With this quote from Pew on Public Pensions...

While strong investments in 2013 are expected to help state pension plans recover, the impact will be muted; most state pension plans smooth out gains and losses over time—typically five years—which means that the investment losses from 2009 won’t be completely incorporated into plan funding data until 2013, and 2013 investment gains won’t be fully acknowledged until 2017.

...is there REALLY any wonder why the fix is in for the Stock Market? EVERYONE with pensions, investments or simply 'retired' has a dog in this fight but no one is really willing to stick their neck out. That's why we're entreated to a fusillade of propaganda on the health of the housing and stock markets (house of cards built on emotional support and wet-ink treasury certs).

[gdzla]

The article stops at blaming the democrat politicians for the mess. In reality the democrats were simply following orders from the unions to keep feathering the pensions in exchange for money and votes.