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Friday, Nov 21, 2014
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Recent Comments

LeroyTirebiter - Coroner exhumes body due to inconclusive autopsy - Quincy, IL News - QuincyJournal.com
Glad to hear this. Family and friends need closure.
LeroyTirebiter - Strawman: And Now WE Get Even With Whitey...... - Quincy, IL News - QuincyJournal.com
Who invited them ?!?! We did. We always have. And we always should. I don't see them taking jobs away from us, I see them doing jobs that most Americans (all races) are not willing to do anymore. Too much entitlement, you owe me, it's too hard, it's beneath me. RUHV is right. Presidents throughout history have used executive orders to accomplish all sorts of things. Some popular,…
qfingers - Quincy School Board proposes $33.63 tax levy - Quincy, IL News - QuincyJournal.com
If that's true then somebody is lying. If the "true" levy is going up 6.53% and EAV only 3% then the tax rate would HAVE to go up too. Or are they not counting the bond payments, tort, and life safety in what's being reported here as the "levy"? If so...then we need more accurate reporting from our news people. This approach is called lying by omission.
GuyFawkes10 - Man arrested for financial exploitation of the elderly - Quincy, IL News - QuincyJournal.com
Police Chief also passed out in Taco Bell drive thru http://www.rawstory.com/rs/2014/11/kentucky-polic...
Stupid_Dems - Mann not seeking re-election to Quincy City Council - Quincy, IL News - QuincyJournal.com
Wonder if she realizes she won't be getting paid for the meetings she will miss as was the norm in the past.

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Report: 5 state pension funds owed $100.5B

10 months, 1 week ago sj-r.com

Debt would have been lower if computation method hadn't been changed

From sj-r.com:
Illinois’ pension debt has officially topped $100 billion, according to a new report issued Wednesday.
And in a bit of irony, the debt would have been lower if lawmakers hadn’t decided in 2009 to change the way it’s computed — in order to lessen the effects of stock market losses.
The report from Auditor General William Holland’s office shows the unfunded liability of the five state-funded pension systems was $100.5 billion as of June 30, the end of the state’s fiscal year. That’s an increase of $5.9 billion from the previous year.
However, that’s the deficit as computed using a process called “asset smoothing” in which investment gains or losses are spread over a five-year period. That approach was adopted by the General Assembly in 2009 at a time when the recession was devastating investment income for the systems. The first time the smoothing system was used, it resulted in the pension deficit being $15 billion lower than it would have been otherwise.
In the latest report, the pension deficit would have increased only about $668 million, to $97.5 billion, had the smoothing method not been used. That’s a reflection of the significant gains in the stock market in the past year.
“The smoothing is intended to even out the extremes,” said Rep. Elaine Nekritz of Northbrook, the House Democrats’ point person on pensions.
Although some may be tempted to have the state return to the old system, Nekritz said that would be a mistake.
“To really be successful at that, we would have to be anticipating the market and I don’t think that’s a task we should be pursuing,” Nekritz said. “Asset smoothing is used by a fair number of pension systems around the country, so it’s not like Illinois is unusual in adopting that method.”
The numbers reflect the pension debt before lawmakers approved a pension reform plan.

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Bob Gough 1 hour, 39 minutes ago

RT @NFL on ESPN: The Chiefs are now 0-4 against 0-10 teams since 1975. http://t.co/ld5gVOmaWj
Bob Gough on Twitter

Bob Gough 1 hour, 39 minutes ago

@howardfineman He called illegals fruit pickers and bed makers. Had a Republican done that, you guys would be screaming racism.
Bob Gough on Twitter

Bob Gough 1 hour, 44 minutes ago

@BRios82 Obama called the illegals fruit pickers and bed makers. #whoistheracist
Bob Gough on Twitter

Bob Gough 1 hour, 46 minutes ago

@EmmaDaly And he called them fruit pickers and bed makers. #ImmigrationAction