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Re: IL...worse than it looks *LINK*

Don't worry Wayne. As soon as Congress votes to make Puerto Rico the fifty-first state it will fix all.
Wait, what, huh Puerto Rico is broke too - That won't work. Well when they make the Virgin Islands
the fifty-first state that will fix all Wait, what, huh, Virgin Islands on the same financial path as Poorto Rico.
Looks like all US distant territories could be following the same path. Refer to attached link.

Puerto Rico would just be adding another broke state. They did announce that they already had 2 senators
and a governor lined up to send to Washington. Talk about the cart before the horse.

Looks like the pensioners are just going to have to take a haircut. My pension at Nortel was kicked to the
US Pension Guarantee Trust Fund here in the US. Even that will give you a haircut, if your pension is to
big if it failed at the company worked for. Mine was not that big, so the amount of the monthly payment was
ok, but these gov't pensions can be very large. Don't think they will let these pensions fail, so that means a haircut.

Might as well add another category to Supplemental Social Security for broke state pensions that don't qualify for
social security. What the heck we have alot of money going out of social security for which it was never intended.
Why stop now.

My cousin and her husband (both life long school teachers in Ohio) both retired a few years ago and are sitting
pretty with their pension income. Yep, even as a kid thought it funny how school teachers complained about
their salaries and said it was not enough even back then they only worked nine months. If you took their salaries
for nine months and converted it to dollars per hr. They were doing ok. The hidden benefit was the pension awaiting
after 30 yrs at the end of the rainbow. You didn't even have to be a good teacher just show up and have
a heart beat.