Wednesday, May 23, 2012

Unfunded pension liabilities - is there a problem?

Unfunded public pensions--somebody's got to pay--

Unfunded pension liabilities draw attention of Homer-Lockport Tea Party - Illinois Review: "If the Illinois General Assembly votes this month to transfer pension liabilities to local school districts, the weight of the debt will fall on local property tax owners - both residential and business. . . . Michael Brown said: "Passing the pensions back onto the disticts will necessarily cause property taxes to increase overnight at least 25%. This will cripple homeowners who already are struggling to pay their mortgage. . . ""

But that's YOUR problem. See how government works!


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