Pension sabotage by Illinois' billionaire Democrat governor

Feb 2011
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Boise, ID
#3
Unions have dominated Illinois politics for generations and consequently Illinois has the nation's worst pension and the nation's worst financial condition. Here is the Illinois Education Association gloating about their "win" in further sabotaging the financial condition of Illinois' pension system.

Thank you! With your help we repealed the 3% and reinstated the 6%

This is one of numerous reasons workers and their unions cannot have majority decision-making power over the financial resources of large organizations, be they public or private. It's because there is no limit to the sabotage they are willing to inflict upon the overall organization to rake in more money for themselves now.

Within our lifetimes Illinois will ask for a federal bailout of their state pension system. Policy decisions like this convince me they should absolutely not get one. Their state constitution forces them to tax their residents into oblivion if necessary to cover pension payments, and meanwhile, the Democrats and unions are celebrating their ability to further sabotage the pension system.