Page 868 - Pensions News Today

They did not just skip parts of the constitution they didnt like, they accidentally skipped some parts of the constitution 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. h...

Like this is exactly the wrong direction for this conversation. >> it scares teachers to death, too. >> right. it feels like it is based on who the good guys and bad guys are. we are responding to newtown, basically. we have to arm teachers because in this case, teachers would have done something different. we cant assume teachers are always the good guys. we dont want to give them pensions but we want to arm them. >> nobody else is responding that way. a few people on the extreme of this, that ...

Aftermath of a disaster is important, but it does not qualify you to be president of the united states. just ask rudy giuliani, and the "time" magazine line had it right, you are the master of disaster, but disaster struck long before hurricane sandy came ashore and hope you do a better job of presiding over the states storm recovery than presiding over new jerseys economic recovery, because new jerseys economic performance was 47th in the nation in 2011 and right now the unemployment rate is 9....

States. particularly the states that do have very, have he generous public employee pensions. they have to get the money from somewhere. there is lot more of us baby boomers retiring. there is a huge bulge. jon: yeah. >> if we all think, oh, boy, well coast into retirement just getting benefits weve got another thing coming. jon: there is no free lunch, right? >> that is the oldest lesson in economics. jon: first rule of economics. paul, thank you. you can catch more of paul this weekend when he...

But its a bailout none the less. >> eric: and very dangerous. what you reference is the unfunded liability, right? >> yep. >> eric: give us a sense of illinois, $96 billion? >> 96 billion. >> eric: nationally? >> 300% in illinois since the late 1990s. nationally, the unfunded pension liability for state workers only is well over a trillion and mounting constantly. >> steve: we were speaking earlier in the break about how that bell, california fiasco where so many people were getting such rich pa...

Wait a second. they havent got anything. theyre getting worse to the tune of $17 million a day. look, in illinois, its very typical of many states around the country where young people are being laid off by the government and services are being cut so that they can pay the pensions of retired state workers. illinois is the worst case of the lot. >> steve: so they may be looking for a federal bailout. have been have to go in front of the american people and say, hey people in texas, and people in...

Lives going to be in a very embarrassing situation. we are on this planet between 70 and 85 years. there will be one time when you are so em bared. look at al roker. last night what did al roker say? he pooped in his pants in the white house. thats embarrassing. >> al roker sharted in the white house? >> what happened if there was nobody around to help you and there were no bathrooms and you had to call 9-1-1? is al roker going to call 9-1-1 saying holy crap, i crapped? >> that would be an abuse...

We ask him off the air, what are you going to do? he goes, i dont care. im going to keep doing whats right. and if im one-term governor, i dont care. and we know chris. he meant it. he really didnt care. he took them on. he won. he won so much that they now are coming to him, and theyre reforming schools in newark together. he did the right thing on the budget. he became good friends with the democrats that run the senate. >> yeah. >> he was worried -- >> he did the right thing on sandy. >> hes ...

Taxing our future generation. we are taxing $1.2 trillion next year. we are taxing $1.2 trillion. we wont collect it. but we are taxing $1.2 trillion of deficit. the chairman of the committee of the ways and means committee mr. camp rightfully so said we are also not simplifying the tax code. we are not making it better or fairer. we are not getting rid of the nascar loophole. we are not getting rid of the electric motor scooter low speed lop hole. we are not getting rid of a whole lot of tax th...

Pointed out that if in fact, youre spending the money youre taxing our future generation. we are taxing $1.2 trillion next year. we are taxing $1.2 trillion. we wont collect it, but we are taxing $1.2 trillion in deficit. the chairman of the ways and means committee, mr. camp, also said were not making it more simple, better or fairer. were not getting rid of the nascar loophole, were not getting rid of the electric motor scooter low speed loophole. were not getting rid of a whole lot of tax thi...