When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Sunday, January 29, 2012

Abolish all Public Pensions and Lower College Tuition

Here's one more reason to abolish all public pensions (except for those already retired or near retirement), bring everyone into Social Security, introduce means testing as proposed by Simpson Bowles, and allow everyone to have an additional tax sheltered, self-funded retirement account as I proposed here--

Increased Illinois higher education funding goes to pensions | FOX 55/27 Illinois | Illinois: "SPRINGFIELD — Illinois’ 12 percent increase in higher education spending this year isn’t going to benefit students. Instead, the additional funding for fiscal 2012 is going into the State Universities Retirement System, or SURS, to address its underfunded pension program. . . . Illinois has a total stated unfunded pension liability of $85 billion, but a 2009 study by theNorthwestern University Kellogg School of Management puts the figure at as high as $219.1 billion. . . ."

So when you hear Obama talk about controlling college costs, remember his home state (controlled and mismanaged by Democrats for years).  In Illinois, they are putting public pensions first, above everything, because Democrats, at least Illinois Democrats, don't care about the people, they only care about those who work for the government.


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects