Awesome costs of public service pensions in US

From American Thinker:

Another way government has devised to pay for illegal immigrant is to divert money appropriated for city and state services to illegal immigrants. This creates a shortfall that states and cities make up by issuing bonds. The explosion of spending on illegal immigrants, as well as the explosion of retirement costs of public sector workers, are the reasons why municipal bond debt has skyrocketed in the past ten years and is now driving some cities and states into bankruptcy. While no state has yet had to confront bankruptcy in Federal court, the passage of time only increases interest costs, it never reduces them.

Public sector union pension costs are also driven by illegal immigration. And in states like Illinois state law puts priority on payments to municipal pensions. These are enforced through state law. So a city that cannot afford its annual pension contributions will have the state declare it is delinquent and can divert state grant money to the pension funds. This is why Chicago’s mayor recently cut back on mental health facilities. Public pensions have, in IL state law, priority even though they say they are devoted to helping children and the disabled.

Other hidden costs are in property taxes. Illinois now has ten cities, including Chicago, where the entire property tax payment goes only to pensions, not services. This lack of revenue prompted Democrats to pass the stimulus programs and Recovery Act. So it ends up in the national debt. The exact amount of national debt created by illegal immigration has yet to be honestly audited.More.

Reality check: This will be a driving force behind euthanasia in the US.

See also: Euthanasia: Estimating death rates in Canada

  • dance…dancetotheradio

    Why I can never stop working.

  • infedel

    …”euthanasia”…how about civil war…we will not comply.

  • B__2

    Sooner or later, all of these schemes will fail; so many of the public service pensions are Ponzi schemes in reality. Those who got in early and were able to get payments out are the beneficiaries. Those young people who are just starting will probably never be the winners unless a much larger group of suckers can be coerced into contributing to these pension schemes when the current members are retiring. The likelihood is that these schemes will run out of money well before then, either through the tax base fleeing ever increasing taxes need to pay for these pensions, or their pension will be worthless due to hyper-inflation caused by the printing of more money that will be used to pay for the pensions.

    It’s a mathematical fact: so many of these government pension schemes are Ponzi schemes and will fail in time – the only uncertainty is when.

    • Alain

      That failure will occur a lot faster in places where the public service is the major employer. A few places come to mind.