Mnuchin Says No Bailout for States With Badly Managed Budgets.

[Coyote]

Sanctuary states shouldn't be getting any bailout money. There has to be consequences for illegal behavior.

we cannot assume the responsibility for under-funded state pensions

the good news is that we can count on Trump to stand firm on this

the better news is that this only really affects deep blue states like CA, IL, CT & NY

The 5 States With the Most Underfunded Public Employee Pensions

Truly fixing the problem will mean resetting the level of state government employee pension benefits to fiscally sustainable levels, which state government employees have so far successfully resisted.

fee.org

In October 2018, Bloomberg's Danielle Moran tallied the total liabilities and the funded portion that applies to each state’s public employee pension funds, finding that five states had funded less than 50% of the cost needed to pay for their promised state public employee’s pension benefits:

• Kentucky (33.9%)
• New Jersey (35.8%)
• Illinois (38.4%)
• Connecticut (43.8%)
• Colorado (47.1%)

New York is 94.5% funded.

Mitch is the one stopping this, and Kentucky is his home state

California is also in bad shape

those states have been making promises and passing legislation for retirement, but don't have the tax base to support it

we can't make this a federal liability

The beauty of California is they’ve chased away many of the big taxpayers like myself and replaced them with ten illegals who pay no taxes and suck on the government teat.

What's Alaska's excuse?

 

[Weatherman2020]

Sanctuary states shouldn't be getting any bailout money. There has to be consequences for illegal behavior.

we cannot assume the responsibility for under-funded state pensions

the good news is that we can count on Trump to stand firm on this

the better news is that this only really affects deep blue states like CA, IL, CT & NY

The 5 States With the Most Underfunded Public Employee Pensions

Truly fixing the problem will mean resetting the level of state government employee pension benefits to fiscally sustainable levels, which state government employees have so far successfully resisted.

fee.org

In October 2018, Bloomberg's Danielle Moran tallied the total liabilities and the funded portion that applies to each state’s public employee pension funds, finding that five states had funded less than 50% of the cost needed to pay for their promised state public employee’s pension benefits:

• Kentucky (33.9%)
• New Jersey (35.8%)
• Illinois (38.4%)
• Connecticut (43.8%)
• Colorado (47.1%)

New York is 94.5% funded.

Mitch is the one stopping this, and Kentucky is his home state

California is also in bad shape

those states have been making promises and passing legislation for retirement, but don't have the tax base to support it

we can't make this a federal liability

The beauty of California is they’ve chased away many of the big taxpayers like myself and replaced them with ten illegals who pay no taxes and suck on the government teat.

What's Alaska's excuse?

Ever been to Alaska?

 

[Weatherman2020]

So forget it, Blue States.

Mnuchin Says No Bailout for States With Badly Managed Budgets.

Mnuchin works for a man who ran up more than $3,000,000,000,000 of debt BEFORE the pandemic. No one loves to spend other people's money more than Trump.

Tell me. How DO you people stand the stench of your own hypocrisy?

Pennies.

 

[HenryBHough]

When the company I worked for was deciding whether to keep their pension plan or go to a 401K I spent a lot of time comparing potential results.

No matter how many ways I tried calculating the figures came out the same.

Even going into a 401K with ONLY a contribution that would be matched by the company I'd be slightly ahead with the 401K and that invested in very conservative ways. If I made the maximum allowable contribution each year regardless of how much of it would be matched I'd be very much ahead if I stuck with very conservative investments. Knowing I had at least another ten years to retire I figured out a moderate risk plan and stuck with it. Surprise! I was able to retire at 55 and live well, travel as much as I wanted and buy "toys" without having to ponder. Of course I moved everything to far less volatile assets immediately retiring. Yes, I left money on the table but have as much as I could possibly need unless I did something really nutty like converting to Islam and taking a couple of new wives.

Hint: Don't buy refined gold or silver. It leaves footprints that the next FDR (and there will, regrettably, be one) can use to find it and take it from you just as did the original Rooseveldt Socialist/Democrat.

 

[Dick Foster]

So forget it, Blue States.

Mnuchin Says No Bailout for States With Badly Managed Budgets.

Steve Mnuchin isn't a member of the House, and has no say whatsoever. Neither does Trump. Congress controls the public purse, not Trump.

You seem to forget that Trump has to sign off on everything congress attempts to pass and it takes a super majority to overturn a presidential veto. Care to rephrase that now?