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Unfunded liabilities news, articles and information:

a long time ago - Unfunded liabilities news, articles and information:

US unfunded liabilities reaches record $61.6 trillion as nation heads into bankruptcy collapse

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US unfunded liabilities reaches record $61.6 trillion as nation heads into bankruptcy collapse

June 17, 2011 - US unfunded liabilities reaches record $61.6 trillion as nation heads into bankruptcy collapse

Friday, June 17, 2011 by: J. D. HeyesTags: unfunded liabilities, collapse, health news

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As Bidenflation collapses economy, unfunded state pension bomb ready to explode, costing trillions

June 14, 2022 -

When the former president's election was stolen from him and Biden was installed as a figurehead president, Trump's economy was booming: Unemployment was coming back down from highs during the pandemic; the country was energy independent; wages had risen substantially for all ages, ethnic groups and both sexes; there was no war in Ukraine; and our country was once again respected on the global stage.

In 15 short months, Biden's Marxist handlers have reversed all of that ...

AAAND IT’S GONE: Google Cloud “error” instantly erases $135 billion pension fund

June 04, 2024 -

UniSuper, a $135 billion pension fund out of Australia with 647,000 members, almost lost everything thanks to Google after Google's Cloud servers erased the fund's entire client list.

Fortunately for UniSuper, Google Cloud's backup servers contained salvageable data that allowed for a restoration, but imagine what would have happened had those backups been corrupted as well – or worse: what if there were no backups at all?

According to Google, the issue is not "systemic," ...

How government waste and mismanagement are bankrupting America’s urban centers

March 04, 2025 -

A shocking new report from Truth in Accounting reveals that the majority of America’s largest cities are drowning in debt, with taxpayers footing the bill for years of fiscal mismanagement and government waste. The report, which evaluated the financial health of the 75 largest U.S. cities, found that most are in the red, with New York City, Chicago, Portland, New Orleans and Honolulu leading the pack as the worst offenders. This is not just a story of numbers ...

Illinois is about to declare a state of bankruptcy and seize all state pension funds, just as the Health Ranger repeatedly warned for the last year

June 26, 2017 -

No kidding. Barron's reports that Susana Mendoza, the Illinois State Comptroller has called this predicament a "state of crisis," partly due to "spending obligations [that] have exceeded receipts by an average of $600 million per month" for at least twelve months. Right now, the state is in debt to a variety of transit companies, social service agencies and other providers to the tune of $15 billion. Some vendors have sued the state to get their money, according to Zerohedge.com....

RIGGED: Government spends $119 million for monkeypox vaccines following ONE confirmed case in US

May 23, 2022 -

The current monkeypox outbreak began in the United Kingdom in early May and slowly spread from there to other Western European nations and eventually to Canada. The outbreak is still small, with about 80 suspected cases, including one confirmed and one suspected case and another six people being monitored for symptoms in the United States.

The Massachusetts Department of Public Health and the Centers for Disease Control and Prevention (CDC) confirmed on Wednesday, May 18, ...

High unemployment rates, high taxes and population exodus pushing Illinois to the brink of collapse

May 07, 2024 -

According to data from the Illinois Department of Employment Security, Illinois ranked fifth-highest in unemployment rates among states in March, with a rate of 4.8 percent. The high unemployment rate has exacerbated concerns about the state's fiscal health.

The oppressive tax structure and high crime rates in Illinois, particularly in Chicago, drive economic stagnation and force businesses and residents to leave the state. In turn, the state lost approximately 32,826 people ...

Warning to all police, firefighters, schoolteachers: Most government pensions to be confiscated within a decade

a long time ago - Warning to all police, firefighters, schoolteachers: Most government pensions to be confiscated within a decade

Detroit's bankruptcy being challenged

Is Detroit "Too Big To Fail?" An Obama bailout may be imminent

The top 10 biggest U.S. cities on the brink of pension bankruptcy

Cascading financial collapse

Financial collapse is not a doomsday conspiracy theory; it is mathematical inevitability

As bad as pensions are, unfunded health care liabilities are far worse

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The mass looting of pension plans begins as federal law altered to reduce pension payouts

December 17, 2014 - The mass looting of pension plans begins as federal law altered to reduce pension payouts

Wednesday, December 17, 2014 by: J. D. HeyesTags: corporate raiders, pension plans, spending bill

2014 Spending Bill last-minute attachment saves pension plans, not pensioners

Millions will lose benefits when they can least afford to

Predictable results

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Pension plans news, articles and information:

a long time ago - Pension plans news, articles and information:

The mass looting of pension plans begins as federal law altered to reduce pension payouts

LIKE CLOCKWORK: Pension plans to be looted nationwide as Congress okays institutional theft of funds

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Pension funds news, articles and information:

a long time ago - Pension funds news, articles and information:

U.S. treasury raids federal employee pension funds to cover debts

Portugal raiding pension funds could be sign of things to come in U.S

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America’s true national debt is around $135 trillion, not the $27 trillion we are being told

October 02, 2020 -

This is the claim of Truth in Accounting, which reveals that the U.S. Published National Debt only includes debt held by the public and intragovernmental holdings, including debt held by Social Security and Medicare trust funds. It does not, it is important to note, include total unfunded Social Security and Medicare promises.

Two critical elements of the debt equation, these latter two factors expand the national debt by a factor of five, rendering it astronomically ...

Private pension funds news, articles and information:

a long time ago - Private pension funds news, articles and information:

Concepts related to Private pension funds

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Just five of Chicago’s largest public pension systems owe more pension debt than the sum of 44 states

March 30, 2023 -

This is according to the Illinois Policy Institute, a libertarian public policy think tank, which found that the city has $48 billion pension debt. The massive size of Chicago's pension fund underscores how difficult it is for the city to get its fiscal situation turned around. (Related: Audit reveals over 132,000 public employees in Illinois are being paid $100,000 a year.)

Justin Carlson, writing for the institute, noted how the five main public pension systems in Chicago ...

Are you ready for the big pension fund bailout of 2020? Governors who imposed coronavirus lockdowns now want taxpayers to cough up $500 billion

April 13, 2020 -

One of them was California, but thanks to the omnipresence of successful tech start-ups in Silicon Valley, the state’s Democrats who created the pension nightmare have so far been able to tax their way out of collapse.

Not so much for Illinois. We reported in June 2017: 

The Land of Lincoln has been wrestling with underfunded pensions and over-promised benefits now for years, but in recent months the situation has gotten so bad that Illinois could be the first U....

Financial disaster looms for America: $106 trillion in unfunded obligations mounting up over 30 years

June 20, 2013 - Financial disaster looms for America: $106 trillion in unfunded obligations mounting up over 30 years

Thursday, June 20, 2013 by: J. D. HeyesTags: US debt, entitlements, financial disaster

More money than the world has

'We haven't come far in three years'

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A pension time bomb is waiting to explode across America… and pensioners will be left penniless when the reckoning comes

April 16, 2019 -

While public pensions in many areas of the country have been bringing in impressive double-digit returns in recent years, factors like an increasing number of retirees combined with fewer overall employees has hit these public coffers hard – and many of them are on the verge of total implosion.

"This is a microcosm of a problem that is occurring across the nation," reports Zero Hedge, warning that public pensions are operating "in ponzi like fashion" – meaning they rely ...

HALF of all U.S. states going BANKRUPT, financial report finds

December 06, 2024 -

A recent report from Truth in Accounting has revealed that 27 states across America, more than half, ended fiscal year 2023 with a deficit, meaning they did not have enough money on hand to cover their financial obligations.

While many states are still rolling in the dough from all the cash that was sent their way during the Wuhan coronavirus (COVID-19) "pandemic," all that money will soon run out. By 2026, federal funds are expected to "dry up," which means many states ...

Water bills spiraling out of control across the U.S.

March 08, 2017 -

Baltimore, MD residents, for example, will pay about 33% more for water and be charged two new fees under a three-year plan being considered by city officials to help fix the city's crumbling infrastructure. Water rates would increase an average of 9.9% annually, and sewer rates would increase 9% a year through the fiscal year of 2019. The plan also calls for new "infrastructure" and "account management" charges. That means that a yearly water bill for the average family in Baltimore ...