Monday, May 30, 2005

Lawmakers OK skipping pension fund payments to balance budget

Few states are as corrupt as Illinois.Now to balance the budget it's time to cook the books.
A Democratic bid to withhold nearly $2 billion in required payments to employee pension systems to balance the 2006 state budget swept through the Legislature on Sunday, despite Republican comparisons of the deal to a payday loan.
Chicago Sun-Times.This probably wouldn't be acceptable behavior in the private sector.Those pensions obligations will be pushed off on someone else in the future.The Illinois state and municipal workers'pensions can't be cut according to the Illinois State Constitution.Illinios State Constitution