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Pritzker Administration sloughs off Illinois pension liabilities passing $500 billion mark, dissembles on pension crisis again
Wirepoints.org ^ | 11/18/2021 | Mark Glennon

Posted on 11/22/2021 12:37:10 PM PST by Jan_Sobieski

There’s a lesson here not only about Illinois pensions but about how easily the press will let Gov. J.B. Pritzker thumb his nose at a crisis.

We reported Wednesday that the total unfunded liability for Illinois state and local pensions passed the $500 billion mark. That includes pensioner healthcare liabilities, which are constitutionally guarantied just like pensions. It is based on numbers from Moody’s Investor Services which uses assumptions comparable to those used in the private sector and are less optimistic than those the state uses. Read Wirepoints Special Report: Illinois pension shortfall surpasses $500 billion, average debt burden now $110,000 per household

Greg Hinz at Crain’s asked Gov. J.B. Pritzker’s office for a response.

“Pritzker’s office is pushing back on the notion that he’s done too little,” wrote Hinz. “Steps such as discounted buyouts of some pensions have ‘begun to bend the curve,’ with the percentage of total spending that goes to pension now flattening, a spokeswoman says in an email.”

Nonsense. Pritzker has done nothing significant whatsoever to fix pensions and it is particularly dishonest to cite pension buyouts as an example of progress.

Pritzker has long been boasting about pension buyouts but forever refuses to provide any support or analysis showing that buyouts would have any meaningful effect. We and others have written about it repeatedly…

(Excerpt) Read more at wirepoints.org ...


TOPICS: Crime/Corruption; Government; US: Illinois
KEYWORDS: crain; greghinz; illinois; jbpritzker
Exhibit “A” of why Euthanasia Shots are mandated to keep the welfare state funded
1 posted on 11/22/2021 12:37:10 PM PST by Jan_Sobieski
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To: Jan_Sobieski

The pensions were looted years ago by Illinois politicians.


2 posted on 11/22/2021 12:58:14 PM PST by Blood of Tyrants (When elections fail, we will either live under tyranny or rebel and throw it off.)
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To: Jan_Sobieski

Jan,
I’m sure that the people of Illinois can work this out without my help. Just tax a little more and pay out a little less, and there you go. If not? Oh, well.


3 posted on 11/22/2021 1:12:55 PM PST by oldplayer
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To: Jan_Sobieski

You stole my thought.....


4 posted on 11/22/2021 1:32:42 PM PST by Lockbox (politicians, they all seemed like game show hosts to me.... Sting)
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To: oldplayer

Wow, if someone moves to Illinois, they take on $10K of debt to pay for someone else to lay around.


5 posted on 11/22/2021 2:02:19 PM PST by glorgau
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To: Jan_Sobieski

When the house of cards finally tumbles the daily life economy for the average person will resemble the Soviet Union.


6 posted on 11/22/2021 2:05:10 PM PST by Rebelbase ( State Dept. Havana Syndrome victims: Guinea pigs of 5G/graphene oxide vax experiments?)
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To: glorgau

And when two people leave, as we are planning on doing, that debt burdens gets even bigger on the people who stay.

L


7 posted on 11/22/2021 2:08:45 PM PST by Lurker (Peaceful coexistence with the Left is not possible. Stop pretending that it is.)
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To: glorgau

Wow, if someone moves to Illinois, they take on $10K of debt to pay for someone else to lay around.
.......................................................

$110K not $10K

Illinois pension shortfall surpasses $500 billion, average debt burden now $110,000 per household


8 posted on 11/22/2021 2:23:15 PM PST by Graybeard58 (The China virus doesn't scare me, Venezuelaism does.)
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To: Graybeard58

Like Soc Sec and Medicare, it’s not really a “problem” until you get to the finish line. Until then, party on!


9 posted on 11/22/2021 2:25:38 PM PST by nascarnation (Let's Go Brandon!)
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