Democratics were out in farce yesterday, rubbing shoulders with the unionistas during their annual migration to the amusement park in SE Porkland. Governor Retread, preparing to run for a fourth term as head of the state he called "ungovernable" just a few years ago, fired up the unionistas, vowing to fight a proposed ballot measure that would allow government workers to opt out of paying union dues.
Having been chauffered into orifice by public employee unions, he made it clear that Oregon will not achieve the sort of fiscal success that has unfolded in Wisconsin in the wake of their successful push to allow public employees to opt out of unionism. Nope, not gonna happen.
Comprehensive research into the funded status of state level defined benefit public pension plans reveals that public employee retirement promises are underfunded by $4.1 trillion. Combined, state public pension plans are just 39 percent funded.
States facing a particularly large unfunded liability at a per capita level and as a percentage of their annual gross state product include Illinois, Ohio, New Jersey, Oregon, Connecticut, Nevada, New Mexico, Hawaii, and Alaska.
Hey, here's an idea: let's build a new I-5 bridge into Vancouver, with trains! As long as the unions are getting paid, it's all good.