Yahoo...yield curve inversion...how long does Illinois have left? (teaching jobs, high school)

[mjstef]

Originally Posted by jasperhobbs

Would you work at a place where you had to pay 75% of the healthcare cost?

Hell i pay 100% as i own my own business!!! People make better decisions when they have a stake in the game!!

[GhostOfAndrewJackson]

Originally Posted by Jon998877

I have been told my SS benefit will decrease by about $800 a month, while I expect my TRS pension to be somewhere around $2000 if I can add a few paid stipend positions my last few years of teaching..

But yet we have people whining and crying about this stuff..

Many of us are dealing with facts and figures, it seems to me you are the one who is whining and crying about the choices you made in life. You chose to walk away from what you frame as a lucrative corporate job, you chose to take a pay cut knowing the salary going in, you chose to go to work in a state where it has been known for decades that the pension system was inherently unstable. These are choices you made.

I understand that your ilk are trying to wage an emotional "poor little me" campaign to garner public support in order to guilt the taxpayer's into sacrificing their own family's well being in order to prop up the outrageous benefit package of the public sector. It may work, but the rules of business, math, finance, economics, and human psychology say differently.

I still believe, that ironically, it will be the the well regarded IMRF that ultimately is what will trigger the collapse of the state. We shall see in the fullness of time.

[westender]

Originally Posted by Kmanshouse

Illinois is likely going to have to get bailed out by the Feds. That won't happen while Trump is in office, so Illinois is going to have to hope for a blue president when they are at the breaking point.

No way would that get through the US senate, even with a full-on leftist as president. You'd see civil war before you'll see one nickel of a federal bailout of any state or any local public pension. The states created the problem, the states have to solve them.

[GhostOfAndrewJackson]

Originally Posted by westender

No way would that get through the US senate, even with a full-on leftist as president. You'd see civil war before you'll see one nickel of a federal bailout of any state or any local public pension. The states created the problem, the states have to solve them.

I so want you to be correct in your assertion. Please be right, please be right...

[Jon998877]

Originally Posted by GhostOfAndrewJackson

Many of us are dealing with facts and figures, it seems to me you are the one who is whining and crying about the choices you made in life. You chose to walk away from what you frame as a lucrative corporate job, you chose to take a pay cut knowing the salary going in, you chose to go to work in a state where it has been known for decades that the pension system was inherently unstable. These are choices you made.

I understand that your ilk are trying to wage an emotional "poor little me" campaign to garner public support in order to guilt the taxpayer's into sacrificing their own family's well being in order to prop up the outrageous benefit package of the public sector. It may work, but the rules of business, math, finance, economics, and human psychology say differently.

I still believe, that ironically, it will be the the well regarded IMRF that ultimately is what will trigger the collapse of the state. We shall see in the fullness of time.

Not whining at all, just expect the state of Illinois to keep their promise, I feel the same as people would feel if someone wanted Social Security to end

There is already a teacher shortage in this state, how bad do you think it will be if TRS is messed with??

[MSchemist80]

Originally Posted by GhostOfAndrewJackson

I so want you to be correct in your assertion. Please be right, please be right...

I think more likely there will be a federal mediated bankruptcy like restructuring of Illinois and other such states rather than a bailout. The feds may have to force Illinois to renegotiate the pensions and restructure and consolidate and generally form a fiscally sound government. I don't think the fed is just going to simply throw money at us.

[GhostOfAndrewJackson]

Originally Posted by MSchemist80

I think more likely there will be a federal mediated bankruptcy like restructuring of Illinois and other such states rather than a bailout. The feds may have to force Illinois to renegotiate the pensions and restructure and consolidate and generally form a fiscally sound government. I don't think the fed is just going to simply throw money at us.

As I have maintained it is going to be fascinating to watch it unfold. It really is quite enthralling when you look at the political players, the power structure. the law, and then fiscal and demographic reality. This really could rival Game of Thrones in terms of entertainment value.

I do think Pritzker's hubris in regard to the budget, pensions has really hurt the long term future of Illinois pensioners.

Bone head moves like this: Pritzker orders Illinois Medicaid to pay for sex reassignment surgery

are going to weigh on the tax paying public's sentiments.

[dtcbnd03]

Originally Posted by MSchemist80

I think more likely there will be a federal mediated bankruptcy like restructuring of Illinois and other such states rather than a bailout. The feds may have to force Illinois to renegotiate the pensions and restructure and consolidate and generally form a fiscally sound government. I don't think the fed is just going to simply throw money at us.

Exactly. Fed will never bailout states. Just look at Puerto Rico. Chapter 9 will simply be expanded.

[Kmanshouse]

Originally Posted by MSchemist80

I think more likely there will be a federal mediated bankruptcy like restructuring of Illinois and other such states rather than a bailout. The feds may have to force Illinois to renegotiate the pensions and restructure and consolidate and generally form a fiscally sound government. I don't think the fed is just going to simply throw money at us.

Yes, something like this. My "bail out" comment was more meant to be "federal involvement".

I'd welcome some forced behavior change. Clearly, voluntary change isn't the answer. Just look at what's happening. My only hope with JB is that he's sort of youngish. He MIGHT actually think longer term, as opposed to Madigan who is going to clutch his pearls while the casket closes.

[MSchemist80]

It's not going to be easy. The behavior from the left has been getting more and more erratic and unreasonable from a State's attorney who won't prosecute criminals, to open borders free for all, to JB's taxpayer funded sex change operations in a fiscally bankrupt state, to taxing people out of their homes and creating an exodus and housing market crash. The Democratic party has just gone completely off the deep end. They are going to have to be dragged kicking and screaming into enacting any sort of reforms.