Saturday, June 24, 2017

Illinois is Broke


  Illinois has lacked proper leadership starting with  Gov. Rod Blagojevich followed his predecessor, former Gov. George Ryan, out of office and into federal prison on corruption charges.  Illinois labor leaders, lobbyists, legislators, aldermen even longtime Chicago Mayor Richard M. Daley have been more likely to pad pensions than to properly manage them, starting with their own comfy retirement cushions.
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Lawmakers promised more and more benefits to retired teachers, police officers, firefighters, and other government workers over the past decade; meanwhile, the pool of money to abilities to fund these pledges was neglected. The estimated shortfall of nearly $100 billion between now and 2045 assumes robust investment returns. What it doesn't include is local pension disasters, such as, the estimated $20 billion hole in the City of Chicago system.

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 All sorts of fixes were promised: raising the retirement age for public employees, increasing employee contributions, freezing cost-of-living increases, shifting younger workers into 401-(k) style savings. The politicians even proposed that responsibility for teacher retirement plans should be shifted to local school boards.  

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The problem is public employee unions are a powerful force in heavily Democratic Illinois, and they have not only clout but the law on their side. The contracts that grant retirement benefits to public employees are guaranteed by the state constitution, the unions argue. Promises struck in stone must be kept. Stymied by so many unpleasant options, the legislature stalled during its regular session, dodging a call for a special session, and punted during a lame-duck session that ended early this month.


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The Pew Center on the States, which tracks the pension funding problem nationwide, says Illinois now faces the worst mess in the country, with less than half of its pension obligations currently covered.The clock is ticking and the only sure thing is that it will be the citizens of the United States who will pay and pay and pay for the follies of the politicians and special interest groups. 
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Just Saying

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The War against the American People Marches On





The B.S. excuse is the smoke screen of fighting “terrorism” is one of the FAKE  purposes of the legislation, it allows any business with government ties to act as a de facto arm of the Department of Homeland Security to take your monetary assets, including Bitcoin and so-called “crypto-currencies.”

S.B. 1241 bill would impose “autocratic financial controls in an attempt to ensure none of your assets can escape one of the state’s most nefarious, despised powers: civil forfeiture.”

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“Civil forfeiture grants the government robbery writ large: your cash, property, and assets can be stolen completely sans due process, your guilt – frequently pertaining to supposed drug ‘crimes.' “A court verdict of not guilty doesn’t even guarantee the return of state-thefted property.”

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S.B. 1241 bill also severely curtails the right to travel freely with more than $10,000 in cash. To do so, a citizen will need to file a report with the U.S. government. Other assets that would be at risk for violations of the law include bank accounts, prepaid cards, gift cards, prepaid phones and prepaid coupons. Violators face prison terms of 10 years.

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“And if that weren’t enough, this bill also gives them with new authority to engage in surveillance and wiretapping (including phone, email, etc.) if they have even a hint of suspicion that you might be transporting excess ‘monetary instruments.  

Cash is Freedom from the Bankers Control. This is why the Bankers will eliminate cash in the not to disatnt future.  Once there is no more cash the Bankers will have ABSOULTE control over every aspect of your life.  Step outside of the system and all of you electronic assets become frozen.  

Cash is Freedom...