Page 6 - Pension Problem News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Ask whether there will be enough in the fund when they are ready to retire. the problem is the squeeze. >> fan it is tick. that was squeezey the pension python the cartoon character introduced by the office of illinois governor pat quinn to raise public awareness about the state's growing pension problem. they owe more than they have in the coffers. legislate tours failed to enact any meaningful reform. this past weekend moody investor as service decided to downgrade to the lowest in the nation. just ahead in california they warn of a still negative outlook. all of this you may think i don't l...

Governor, it was squeezy that python. why is that the fed's responsibility to bail people out of their own bad decision-making? >> it might be good politics to do that, president obama porting the people who supported him, but it very bad economics. in illinois, you ran the tape of the pension python. that python is $233 billion in the state of illinois. those that don't have the money. what they should be doing is addressing the pension problem. they are not doing so. beneath the surface, the desire for help from someone else. megyn: think about how this makes the people of detroit deal. ther...

The government has increased its attack on the center even though rebels did have hand-to-hand with heavy weapons last week. the helicopters and jet fighters are moving too much for them. shannon: republicans pouncing on a pu report that a member of president obama's inner circle took $100,000 in speaking fees from a company tied to iran. reports say david plouffe gave a pair of speeches to a subsidiary of a telecom company two months before he joined the white house staff. that company was doing business with iran at the time. he calls republican criticism misplaced. steering numbers on illin...

The largest u.s. city so far so ever file for bankruptcy. >> so what does that mean and can we expect more cities to fail like this? stu varney is here to talk about all this. stu, what happened in stockton? >> ok, the city spent big when times were good. >> right. >> it then went through an awful real estate crash. gave 15% unemployment in the city. it then cut back its budget dramatically, a quarter of the cops were fired. a third of the firefighters laid off. 40% of the employees all gone but still, not enough to meet that pension obligations. yet again, this is another city in a state wher...

Huge budget problem here, right? >> you have the pension problem which causes that, it's $81 billion of long-term debt created over the years. we've got a $9 billion deficit in the budget which we can't make up this year alone, but we have reduced -- are trying to reduce this budget which we hope to pass in the next couple of days, which will reduce last year's spending by as much as $6 billion, as well as tied with that a medicaid reform that we just passed that reduces that budget by 2.5 billion. yeah there is a lot of issues that are out there. bill: i apologize for the interruption. a lot ...