Forum Home | Log in | Signup | My Page | Rules | FAQ | Boards | Members | Search
« POPE IV Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next

Re: llinois on the Brink of Bankruptcy  

By: micro in POPE IV | Recommend this post (2)
Thu, 07 Apr 16 4:48 PM | 69 view(s)
Boardmark this board | POPES NEW and Improved Real Board 		Msg. 05380 of 47202
(This msg. is a reply to 05370 by Decomposed)
Jump:
Jump to board:
Jump to msg. #

Who pays any attention to a Constitution? They are simply irrelevant and inconvenient foe every union person and fellow commies and socialists as well as every politician...

» You can also:
- - - - -
The above is a reply to the following message:
llinois on the Brink of Bankruptcy
By: Decomposed in POPE IV
Thu, 07 Apr 16 9:56 AM 		Msg. 05370 of 47202

April 6, 2016

Illinois on the Brink of Bankruptcy

ArmstrongEconomics.com

Uploaded Image

The pension crisis is brewing and the one state that appears to be heading toward a complete bankruptcy is Illinois. Clients should not own ANY debt from Illinois, be it city, municipal, or state. Just get out before the curtain falls. The Illinois Constitution plainly states that pension benefits, once granted, “shall not be diminished or impaired.” Thus, taxpayers are absolutely screwed and this is not a place you want to own property. Governments cannot negotiate to reduce pensions so state workers will be pitted against taxpayers. The Supreme Court has struck down any attempt to reduce liabilities based upon this clause in the Illinois Constitution.

http://www.armstrongeconomics.com/international-news/north_america/americas-current-economy/illinois-on-the-brink-of-bankruptcy/

« POPE IV Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next