Illinois Governor proposes federal bailout for his state

Illinois is one of the public union states that will one day need a federal bailout because of their pension shortfalls. Governor Quinn has now made that official by pointing out in his budget proposal that, “significant long-term improvements” in that debt will come from “seeking a federal guarantee of the debt.” ✧ Wonder how the governors of other states that have taken fiscal responsibility for their spending or “right to work” states will enjoy subsidizing undisciplined public union states like Illinois and California? Read more at the Rockford Register Star...

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Wall Street Journal: An Illinois Pension Bailout? - Governor Quinn wants you to guarantee his state's pensions.
State Budget Solutions: Block any pension bailout now to force reform By Frank Keegan Read More......

U.S. Public-Pension Shortfall $4.6 Trillion, Group Says

U.S. public pensions are $4.6 trillion short of the amount of assets needed to cover projected liabilities, an advocacy group said. That’s more than twice what Moody’s Investors Service estimated this month. ✧ The average plan is 41 percent funded, State Budget Solutions said in a report today. The Alexandria, Virginia, group’s partners include the American Legislative Exchange Council, which advocates “conservative public policy solutions,” the Freedom Foundation and the State Policy Network, which is composed of “free-market think tanks.” Read more at Bloomberg... Read More......