Posts tagged "Pensions"

Contrary to Claim, White House Did Control GM's Daily Business And Cut Workers' Pay?

-By Warner Todd Huston When Barack Obama threw millions of our tax dollars at General Motors to “save it,” the administration claimed that it would not involve itself in the “day-to-day management” of the venerable car company. New emails obtained by The Daily Caller, however, casts doubt on this claim. In fact, as Matthew Boyle... Read more »

Democrats FINALLY Talking of Cutting Back Govt Employee Pensions

-By Warner Todd Huston The Washington Post had a recent piece saying that it looks like Washington is finally coming to the stark realization that the benefits and pensions of federal workers are wildly over promised and even Democrats are finally contemplating cuts in federal pensions. The GOP has already targeted these pensions by proposing... Read more »

Employee Levels Fall But New York's Fringe Benefits and Pensions Costs Soar

-By Warner Todd Huston Pensions are the single biggest problem that every state, county and city in the Union face and New York City is no different. It is so bad that even as New York City has seen the numbers of its government employees fall, its costs in fringe benefits and pensions have still... Read more »
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Pension Reform in Illinois: A Hard Job That Springfield Wants to Ignore

-By Warner Todd Huston Americans for Prosperity – Illinois has launched an effort to goad our lawmakers in Springfield to tackle the single most vexing problem the state faces: pension obligations. AFP has launched a website called “Fix Illinois Pensions Now” to help inform and empower voters so that they might encourage their representatives to... Read more »

The Democrat Caused Pension Bomb About to Destroy Our States

-By Warner Todd Huston A few weeks ago I wrote that unions have driven every state budget into a hole from which it isn’t likely the states can easily dig themselves out. I did not at that time reference the Pew report on the pensions mess and I want to revisit it here. On April... Read more »

Top Worst State Budgets: Unions Have Put EVERY State's Budget In The Hole

-By Warner Todd Huston Illinois in Top Ten WORST States… When you or I overspend our family budget and end up not being able to pay our bills a few things happen, all of them bad. At best we do without luxury items, at worst a bank comes and takes our cars away, our homes... Read more »
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Corruption and Political Intrigue in Government Employee Pensions

-By Warner Todd Huston The Los Angeles Times has a disheartening report about the graft, corruption, and nest-feathering infesting the administration of California’s government employees pension fund, CalPers (California Public Employees’ Retirement System). It reports that subordinates were pressured into investing in to firms run by political buddies and that one of the former CalPERS... Read more »

Getting Rich Off the Taxpayers: School Administrators Double Dipping Pensions

-By Warner Todd Huston It must be nice to work for the government. Sadly it’s the most lucrative way to make a living in American history. To “win life’s lottery” all you have to do is get a job with the government — whether the federal or state government — at practically any level and... Read more »

Unions Realizing They Have Bad Reputation, Launch PR Campaign

-By Warner Todd Huston So, what is the first thing that you do when you find out that everyone hates you? What do you do when you finally come to terms with the fact that you have the worst reputation possible? Do you sit yourself down and reassess your actions to try and pinpoint why... Read more »
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Quinn's Pension Mess

Quinn's Pension Mess
From John Bambenek… Last night the Governor’s office confirmed what many have suspected, that the Illinois pension systems are the subject of an SEC investigation. You can read the Wall Street Journal article on the subject. With our pensions systems not only falling below 50% funding, but selling assets to keep the lights on, this... Read more »