Page 867 - Pensions News Today

Gives illinois the worst rating of all 50 states in the united states of america. credit agencies have been yelling at the prairie state officials to get their act together to conform out-of-control pensions crippling the states. stuart varney is here. this cant surprise you, can it? >> no. pension costs out of control that dont have the money to pay their obligations, and everybody knows it. the rating agencies know it, so they downgrade them. that means that when illinois comes to borrow money...

>> you certainly understand it better than most covering capitol hill. but the power he wields and the influence. you talked about implications. just how much will he be missed, that influence and just understanding the senate? he talked about some of the committees hes on and influence those real world implications. >> seniority is one of the great currencies in the u.s. senate. we have seen a lot of seniority begin to dissipate. went you have somebody with 40 years in congress like tom harkin ...

Bond sales to write down spains debt went well. >> we are getting indicators that its slowly adjusting. start to turn in the coming quarter. >> greece might be building on a couple of years of austerit austerity. the country is qualifying for e.u. bail-out money. 2013 is bringing more protests. young and old in athens. unemployment in greece is higher than spain. and pensions are slinking. >> we are rapidly going backwards. far backwards. the only battle is the battle on the street. >> greece is...

To 80 different healthcare plans and then 40 different pension plans, and what everybody knows and research shows is that states are on the verge of bankruptcy because they have three trillion dollars of underfunded pensions, thanks to public sector workers. >> in the case of hose success, i will say this, there were him in -- nimrods running the country, and ran it into the ground. >> doesnt help when you have to deal with 400 different -- >> might be a point about that. carolyn, he we are with...

Union sending his or her dues, which are just about $700 a year, on average. that is the extraction that matters. >> megyn: they get benefits for the member and the union shops tend to get better pay. >> and they get better pay and a political direction that folks who are not unionized dont have to worry about. >> megyn: because thee spend the money on politics. >> this symbiotic relationship between the unions and the democratic party, local, state and federal government is one of the reasons w...

Dispatcher, a detective. thats their salary on the left. their salary. on the right in red, thats the overtime in one year. >>alisyn: in addition to their salaries. >> in addition to their salary. this is why unions, union contracts on the municipal level, especially in states like illinois, in chicago, this is why unions are breaking the bank of state finances. $91,000 a year just in overtime. of course that all goes towards the lavish pensions which are going to be built up even more in the fu...

Reflected just that. and of course it is the identified problem of the republican party, no doubt about it. im joined tonight by terry oneill, president of the national organization for women, and also with us this evening clarissa martinez, director of civic engagement and immigration at the national council of la raza. great to have both of you with us. >> thank you. >> based, terry, on what you saw today, what are your hopes for a second term? >> i am very hopeful, actually. we need to pass e...

I want this country to go, but at the same time you have to mix it with the practical hard truths that were all going to have to face that are out there. everyone understands it. it has to do with tax reform and medicare and social security. and kind of realigning the federal budget. the phrase that i have been using, you know, ever since the end of world war ii democracy has been giving its citizens something. now were going to have to start taking some things back. not just its federal level, ...

>> i love this. the los angeles city council, they are paid $150,000 a year and they meet all the time. in texas, for the whole state, they only meet for 140 days every two years. >> neil: really, but there are more state workers in texas. >> that shocked me. more state workers but they pay them so much more in california, that is why california is going broke. its not just the pay. and the pensions, you put up the number unfounded liability per government worker in california is more than $400,...

That they liked just fine, but just had the misfortune of getting lost when pages in their binder got stuck together. this time i think the group experience was a little less humiliating. it was more sad and sparsely attended. this year they saved the real embarrassment for just one guy, for just republican congressman dennis ross of florida. he drew the short straw today. he was the guy who showed up i think totally randomly, but just in time to be handed section 4 of the 14th amendment of the ...