Emperor_Gestahl
Muse
- Joined
- Jun 16, 2009
- Messages
- 842
And btw, many so-called "fully funded" government pension plans are nothing of the sort. Illinois, for example, assumes the pension investments will yield 8.5% every year.
Anyone here have investments averaging an 8.5% return over the last 10 years? Didn't think so. But that's the rate our idiotic legislators rely on to calculate contributions, and why we have an $80 billion pension shortfall in Illlinois.
http://sunshinereview.org/index.php/Wisconsin_public_pensions
Wisconsin presumes a 7.80% return rate on its pension investments.
You're right Wildcat Wisconsin does seem to have a bubble mentality when it comes to investment returns.
Even if we assume there's no budget emergency and there's no rush to pass this legislation.. so what? An elected legislative majority is.. legislating. I don't think this stunt by the WI democrats is likely to block the bill, if they do manage to paralyze the government completely wouldn't that be a lot like sedition? Maybe exactly like sedition? I do believe in this country if you don't like a bill your only choice is to wait and elect representatives who will repeal it?
For now I'm holding out hope that this is the usual political theater and will blow over soon enough. After all how would you feel if the congress was still waiting to vote on the health care bill because we couldn't find the republicans? Two-party politics means you're going to be angry at the government at least some of the time, it's the trade-off we make for, y'know, democracy.
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