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Breaking: S&P drops Obama's Illinois to *worst* credit rating of any state in country - blames Union pensions!

 
Bucephelus
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01/25/2013 08:10 PM
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Breaking: S&P drops Obama's Illinois to *worst* credit rating of any state in country - blames Union pensions!
[link to helenair.com]


Illinois' already disastrous financial situation worsened
Friday as another credit rating agency downgraded its rating
to the worst of any state in the country
, blaming lawmakers'
ongoing failure to resolve a multibillion-dollar pension crisis.

Illinois has a $96 billion unfunded liability in its five
state-employee pension funds, due to decades of shorting or
skipping its pension payments. To catch up, the state must
allocate nearly one-third of its general revenue annually to
pensions, putting a squeeze on money for services such as
education and health care.

Standard & Poor's analysts said Friday the new rating reflects
what the agency sees as the state's "weakened pension-funded
ratios" and lack of action on reform measures.

.
Bucephelus
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01/25/2013 08:12 PM
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Re: Breaking: S&P drops Obama's Illinois to *worst* credit rating of any state in country - blames Union pensions!
But it's cool because those peeps in Illinois try to revolt, they won't have any gunzzzzz!!!!!!!!!!!!!!

ohappy
Bucephelus (OP)

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01/25/2013 08:18 PM
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Re: Breaking: S&P drops Obama's Illinois to *worst* credit rating of any state in country - blames Union pensions!
.

But it's cool because those peeps in Illinois
try to revolt, they won't have any gunzzzzz!!!!!!!!!!!!!!

.
 Quoting: I Be Stylin! 33022207
.


No Bailouts for you!!!

There's simply not enough to Bailout the states (he he).

stttrillion

.
Bucephelus
Bucephelus (OP)

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01/25/2013 08:18 PM
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Re: Breaking: S&P drops Obama's Illinois to *worst* credit rating of any state in country - blames Union pensions!
.

But it's cool because those peeps in Illinois
try to revolt, they won't have any gunzzzzz!!!!!!!!!!!!!!

.
 Quoting: I Be Stylin! 33022207
.


No Bailouts for you!!!

There's simply not enough to Bailout the states (he he).

stttrillion

.
Bucephelus
Anonymous Coward
User ID: 14518082
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01/25/2013 08:41 PM
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Re: Breaking: S&P drops Obama's Illinois to *worst* credit rating of any state in country - blames Union pensions!
Busephelus-

Nice Ranxerox........Reminds me of reading Heavy Metal mag back in the 80's!!

God I'm Old....grumpy2
No Dhimmi
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01/28/2013 08:53 AM

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Re: Breaking: S&P drops Obama's Illinois to *worst* credit rating of any state in country - blames Union pensions!
Excuses No Solut
Background of my avatar: [link to en.wikipedia.org]

The religion of submission cannot survive an open and honest discussion of its convoluted and foolish scriptures, its sexually perverted terrorist prophet, or its deceitful and demented god. When Western leaders become unified and resolute in their hostility to Islam's violent and ungodly beginnings, Muslims will flee the religion because they will be horrified by its endorsement of terrorism, mass murder, slave trading, plunder, kidnapping, and rape.

If Muslims & their apologists really want to cure "Islamophobia," here is an easy way. Focus their indignation on Muslims committing violent acts in the name of Islam, not on non-Muslims reporting on those acts.
[link to www.cspipublishing.com]
[link to www.faithfreedom.org]
[link to thereligionofpeace.com]
[link to www.bibleprobe.com]
[link to www.fatherzakaria.net]

Ecclesiastes 10:2 “The heart of the wise inclines to the right, but the heart of the fool to the left.”

We are all born ignorant, but it takes a lot of work to keep looking the other way to remain stupid.

Islam is not a race - the racism rant is lame, used by the intellectually lazy to derail the debate.

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