Sunday, Dec 21, 2014
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Recent Comments

Peoplechamp31 - QPS Board approves higher 2014 tax levy - Quincy, IL News - QuincyJournal.com
If you guys and Mr Gough want to have a real convo why don't you ask Peters and the district how come my kids have to wear winter coats into the Qhs building and why we have so many problems out there with the new HVAC system!
Peoplechamp31 - QPS Board approves higher 2014 tax levy - Quincy, IL News - QuincyJournal.com
They..... I'm fully aware of some of there wages as well! But there not in the media making comments about things they don't know anything about! Irving should have been sold along time ago! We have people renting it from us knowing we will never use this building again! I mean look at Dewey school way worse than Irving by far, but our kids are in that building still! I don't want to…
hotrod400 - Mayor Moore talks garbage...again - Quincy, IL News - QuincyJournal.com
Dish and Direct do not use City property for their systems. They are satellite based..."beam me down Scotty". Only physical presence is their antenna on your building or in your yard, both private property. Don't know about the phone company. But they are required to share their lines with other carriers. So, who pays that?
hotrod400 - Mayor Moore talks garbage...again - Quincy, IL News - QuincyJournal.com
This whole trash fiasco started out with the TLE's (aka Kyle Moore) Director of Administrative Services thinking the cost of Workmen's Comp insurance premiums could be dramatically reduced if the City used the totes and trucks equipped with lift devices. The decision was made to offer that service to residents at a considerable cost increase over the sticker system. The totes cost $65 up…
Quijote57 - REBEL MEDIA: Bush v. Clinton...yawn - Quincy, IL News - QuincyJournal.com
Here here! We must remember that in 1856, the GOP was a fledgling upstart made up of former Whigs and a few Democrats. Then, once Lincoln won the White House in 1860, the GOP held the Presidency for most of the next 50 years, except for the two Cleveland terms. So there is hope for another party to rise and take the place of the Repulicrats/Democans. The sooner the better!

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Report: 5 state pension funds owed $100.5B

11 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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From the Newsroom

Bob Gough on Twitter

Bob Gough 46 minutes ago

RT @Danielle Tcholakian: "Today is the worst day of My life," writes the son of one of yesterday's slain NYPD officers. http://t.co/jZScBHGY9i
Bob Gough on Twitter

Bob Gough 47 minutes ago

RT @American Thinker: Time for sports teams to wear NYPD logo shirts http://t.co/FLRdc0jY5L
Bob Gough on Twitter

Bob Gough 8 hours, 48 minutes ago

RT @DanRiehl: oh RT @ByronYork: Golf round finished, Obama releases statement on murders of two NYPD officers: 'unconditionally condemn.'
Bob Gough on Twitter

Bob Gough 8 hours, 51 minutes ago

RT @John Groves: Al Sharpton should be treated no differently than Fred Phelps and the Westboro Baptist Church. #NYPDShooting