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Friday, August 03, 2012

America's Worst Fiscal Crisis, the Illinois Pension Ponzi Scheme

A special session on August 17th has been called by Governor Pat Quinn, to deal with America's worst fiscal crisis, the Illinois Pension Ponzi Scheme.  Since it costs an extra $13 million each day the scheme is not stopped, it's not clear why he waited until now instead of forcing legislators to keep working all summer.

And, it's not clear what House Speaker and Illinois Dictator Michael Madigan, the Bernie Madoff of Illinois, will "allow" with his power in our so-called democracy, but with election season approaching, it's not likely he will want to jeopardize his main priority, which is to rig and manipulate elections to keep himself in power as he has done for 40 years.

Locally, State Rep Darlene Senger has been part of the pension working group, studying the options and solutions.  She says as legislators started to get closer to some deal that could work, the Madigoons (including Lisa Madigan) decided to throw a poison pill into the process by coming up with a cost-shifting scheme that would dramatically increase property taxes in the suburbs.

In the race for the open seat for 84th District State Rep, there are two completely opposite candidates on this issue.

Pat Fee, from Aurora, who has also worked with Senger, strongly supports pension reform that will save taxpayers from further harm.  Like many legislators, she believes cost-shifting of pensions to local schools, colleges and universities is part of an overall complex question of education funding.

However, Stephanie Kifowit, the party girl alderman who pledges her allegiance to the political mafia every day, says she will do whatever Madigan tells her, even if it sticks billions of costs onto suburban taxpayers.

Kifowit does agree there needs to be reform to the pension system, but not for the reasons taxpayers are concerned about.

"I just want to make sure we fund the pension system so I can get one" Kifowit told a source.


Anonymous said...

Wow. Lot's of laughs in this one! First "America's Worst Fiscal Crisis"? Talk about hyperbole! You could have Said "Illinois' Worst" and I've have bought that. Maybe even "Midwest's Worst". But all of America? Not even close.

Then you speak glowingly of Senger and Fee, and disparagingly of Madigan and Kifowit, for holding the same position, i.e. shifting the costs that the state has been legally required to pay (but has not) to the local schools, etc. That's really how it probably should have been set up in the first place years ago, but to blast one side and praise the other for holding the same position is beyond hypocritical.

To me, the very first step toward pension reform should be to show leadership and eliminate all pensions for the legislators and elected officials. Whether it saves much money or not, it would send a message and show LEADERSHIP. But NEITHER party has proposed that, have they? Hey, Tom Cross, Mr. Minority Leader, how about you submit a bill in the house to do that? And Christine Radogno, you submit the same bill in the Senate?

Anonymous said...

2012 Democratic National Convention Schedule -- Charlotte , N.C.

4:00 PM – Opening Flag Burning Ceremony – sponsored by CNN

4:05 PM – Singing of "God Damn America ," led by Rev. Jeremiah Wright

4:10 PM – Pledge of Allegiance to Obama.

4:15 PM – Ceremonial 'I hate America ' led by Michelle Obama.

4:30 PM – Tips on “How to keep your man trustworthy & true to you while you travel the world” – Hillary Clinton

4:45 PM – Al Sharpton / Jesse Jackson seminar “How to have a successful career without having a job.”

5:00 PM – “Great Vacations I’ve Taken on the Taxpayer’s Dime Travel Log” with slides - Michelle Obama

5:30 PM – Eliot Spitzer Speaks on "Family Values" via Satellite

5:45 PM – Tribute to All 57 States – Nancy Pelosi

6:00 PM – Sen. Harry Reid - 90-minute speech expressing the Democrat’s appreciation of the Occupy Wall Street movement, and George Soros for sparing no expense, for all that they have accomplished to unify the country, improve employment and boost the economy.

8:30 PM – Airing of Grievances by the Clintons

9:00 PM – “Bias in Media – How we can make it work for you” Tutorial – sponsored by CBS, NBC, ABC, CNN, the Washington Post and the New York Times

9:15 PM – Tribute Film to Brave Freedom Fighters incarcerated at GITMO – Michael Moore

9:45 PM – Personal Finance Seminar - Charlie Rangle

10:00 PM – Denunciation of Bitter Gun Owners and Bible readers.

10:30 PM – Ceremonial Waving of White Flag for IRAQ & Afghanistan

11:00 PM – Obama Energy Plan Symposium / Tire Gauge Demonstration / You, too, can get rich with Green Investment bankruptcies

11:30 PM – Obama Accepts Oscar, Tony, Latin Grammy Awards and Next Food Network Star

11:45 PM – Feeding of the Delegates with 5 Loaves and 2 Fish -- Obama Presiding

12:00 AM – Official Nomination of Obama by Bill Maher and Chris “He sends a thrill up my leg” Matthews

12:01 AM – Obama Accepts Nomination as Our Lord and Savior and Delivers Acceptance Speech

Anonymous said...

Nice attempt at distraction, 8:08. "Uh, oh, he's right, the Republicans haven't really put forward a plan to deal with the problems, either. So I better make something up about the democrats." But it won't work. We all know that BOTH parties suck.