Saturday, April 10, 2010

Illinois Lawmakers - What Are They Doing?

Our Illinois lawmakers recently passed a bill in less than 12 hours reducing Illinois teachers' pensions (by the way, teachers in Illinois don't get social security in addition to their Teachers' Retirement Pension) and extending the age of retirement.

Our Illinois lawmakers on the other hand can retire at age 55 with as little as eight years of service. They contribute 11.5 percent of their salaries. The longer our state senators and representatives serve, the greater the percentage of their final salary is tacked onto their pensions (according to the Springfield Journal):

* They get 3 percent of their salary for each of the first four years they’re in office.

* They get 3.5 percent of their salary for each of the next two years in office.

* They get 4 percent of their salary for each of their next two years.

* They get 4.5 percent of their final salary for each of their next four years.

* They get 5 percent of their final salary for every year above 12 years.

That means a legislator could have worked for only 12 years and be entitled to retire at nearly half his or her salary. It would take only 20 years of service to reach the maximum 85 percent pension. A state worker (teacher) would have to work 34 years to reach their maximum pension of 75 percent.

One voter asserts that, "the state has not put into the pension fund since Thompson and further claims that Blago even took $2 billion out of the fund for other 'projects.' Now these Illinois lawmakers whine the fund is hurting. As if they don't know why. The workers will suffer for the legislators greed. It's a lot like a rapist blaming the victim."

In 2007 (3 years ago) Illinois lawmakers earned $57,619.00/year plus $125/per session day.

Friday, April 10, 2009

The source of job losses in the U.S. - Offshore Outsourcing?

Our jobs will continue to be exported until the workers of the U.S. lower their standard-of-living (wages) to a point that is equivalent to that of the rising standards-of-living in India, China, Bangladesh, Taiwan, etc. Some call it "Globalization" while others call it "Unpatriotic" and others call it "Exploitation." No matter the name, it is here...are we prepared for it? Though the most productive workers in the world are in the U.S., they must prepare for globalization.

Stats on Offshore Outsourcing
CNN Video (8 minutes)
List of U.S. Companies that outsource U.S. jobs
The top 100 service providers that help U.S. companies outsource U.S. jobs
What is Outsourcing?
The Other Side of Outsourcing - The Author of "The World is Flat" YouTubes how Outsourcing is good.
A sarcastic/morbid view of Outsourcing by The Onion.

Tuesday, April 7, 2009

April 09 Elections

Thoughts on this year's elections and ideas for next?

Sunday, September 28, 2008

"It's the Economy Stupid!"

"I have two great enemies, the Southern Army in front of me, and the financial institutions in the rear. Of the two, the one in my rear is my greatest foe." -Abraham Lincoln

"You are a den of thieves and vipers, and I intend to rout you out, and by the Eternal God, I will rout you out." -President Andrew Jackson to the bankers in 1835

By 1836 Andrew Jackson had successfully killed the Second Bank of the United States and in only two years (by January 8, 1838) he paid off the entire national debt. When he was asked what his most important accomplishment had been, he stated without hesitation, "I killed the bank."

On June 4, 1963, President John F. Kennedy (executive order 11110) declared that the privately owned Federal Reserve Bank would soon be out of business.

Saturday, August 30, 2008

State of Illinois Rants, Raves, and Elections

100 million Reasons to Vote "No" to Illinois Constitutional Convention. Read Dahl's explanation in the MDH.

U.S. Government Rants, Raves, and Election

"If once the people become inattentive to the public affairs, you and I, and Congress and Assemblies, Judges and Governors, shall all become wolves. It seems to be the law of our general nature, in spite of individual exceptions." --Thomas Jefferson
You must register by October 7 to vote in November's Elections.