Unfunded pension Liability; a hole so deep we may not climb out

From beautiful Homer Glen, I feel a time bomb is getting ready to explode in the Illinois Economy which is already the worst in the nation. We now have the honor of being in more financial trouble than California. We have a 2% increase in payroll tax that will be felt January 1st. This means a person making $40,000 per year will pay an extra $66 per month to the State of Illinois directly from their pay check. This means you are taxed a whopping $166 per month if you earn $40,000. I guess the liberals in Illinois consider $40,000 per year rich. Maybe they think anyone that has a job is rich. The taxes we pay are a huge problem, but unfunded Pension liability will be the straw that broke the camel’s back.
The state retirement systems will need $131 billion to cover benefits, but there’s only $46 billion in the bank (analysis by Charles N. Wheeler III). Where is the money going to come from? Why did our elected officials (Democrat controlled House, Senate, and Governor) allow this to happen? http://www.examiner.com/will-county-libertarian-in-chicago/unfunded-pension-liability-is-illinois-it-to-deep-to-get-out

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