Respectfully submitted by Lawrence E. Rafferty (rafflaw)-Weekend Contributor
Over the last few years we have seen many stories and articles that discuss the problems States and Municipalities are having in paying their public pension payments and how various politicians propose to fix those “problems”. The politicians almost always seem to blame the pension problems on the overpaid government workers and their unions. The idea that Wall Street might have something to do with these government pension plans being underfunded is rarely discussed. Until now.
A significant portion of the funds deposited in government employee pension plans is invested with Wall Street. According to one recent study, the public pension plans are paying at least $5.4 Billion dollars each year to Wall Street. Continue reading “Follow The Money”
Respectfully submitted by Lawrence E. Rafferty (rafflaw) Weekend Contributor
A few weeks ago, I wrote about the massive cuts to education and programs for the poor by the new Governor of Illinois, Bruce Rauner. In that article, I mentioned that Gov. Rauner seemed to be parroting the budget methods of Governor Brownback in Kansas and Gov. Walker in Wisconsin, both of whose state economies have been floundering under their respective austerity programs.
Well, it seems that in Wisconsin, Gov. Scott Walker has gone even farther in his attempts to balance the budget on the backs of the middle class by proposing massive cuts to the Department of Natural Resources, while attempting to wrest control of various agencies from the public domain and capturing them in the Executive branch of government. Continue reading “Cutting the Great Outdoors of Wisconsin, Along With Everything Else!”