Illinois Pension Crisis to Spread Across U.S.

A major pension crisis has made its way to Harvey, Illinois. Now, the whole State might suffer while you foot part of the bill…


Peter Reagan, June 12, 2018

In a city with 20% unemployment, property taxes over 5%, and home values declining by 80% over the last decade, greed and incompetence from Harvey, Illinois’ government seem to have a higher priority over solving economic problems.

Since Illinois doesn’t allow cities to file bankruptcy on pension debt, each fund has to be “paid.” So Harvey has to cough up tax revenue to pay down its debt.

But the funds aren’t there, and robbing Peter to pay Paul can only last so long.

Citizens of All 50 States Will be Affected

The pension crisis unfolding in Illinois serves as a stark warning to local governments across the country.

According to a mid-2017 report by Lombardi, all 50 states might experience profound pension challenges:

“A study of the 649 different pension systems…found systematic problems with the assumptions underlying many trusts… This will have profound effects on citizens of all 50 states… In short, a pension crisis is in the works.”

The “crisis in the works” is unfolding, now. Back in 2012, 37 of 50 state pension plans were underfunded. Six years later, almost every single state in the Union has an “unbalanced budget due to runaway pension costs”.

Plus, outdated State pension plans are eating up the tax revenue of their respective state budgets.

How to Hedge Against the Risk

As “hidden debt” eats away at state budgets, you might end up footing the tax bill. The implosion of an outdated pension system could result in retirees losing all of their retirement benefits.

Don’t leave your hard earned savings exposed. That’s why so many have already moved their savings into something that’s proved, time and time again, to protect against economic uncertainty: physical gold.

While you still can: Get a FREE Info Kit on Gold here. There is zero cost and zero obligation to you – we’ll even pay for shipping.

Plus, this 16-page “insider’s” guide reveals the little-known IRS Tax Law to move your IRA of 401(k) into an IRA backed by physical precious metals – without paying any taxes on the transfer.

It’s an excellent option for anyone who wants to take advantage of this opportunity with any savings in their retirement account.

But remember, you must act soon. Once the crisis completely unfolds, it may be too late to take advantage of this opportunity. To get started, click here to get this free info kit on gold.


RELATED CONTENT

Millions to be Hit Hard by this U.S. Scheme to Confiscate Your Savings

Millions to be Hit Hard by this U.S. Scheme to Confiscate Your Savings

China Just Launched this Attack on the USD

China Just Launched this Attack on the USD

Move Your IRA or 401k to Gold

The Sneaky IRS Tax Law that’s Sweeping the U.S.

  • jackcandobutwont

    and so it begins…..Socialism is great UNTIL you run outta other people’s money!!

  • Politicians have always used promises of great retirement pensions as a vote getting tool.. now the bill is coming due.. None of them will every reap the consequences of their despicable deeds… everyone of them (State and Federal) should have their own pensions taken away …they started and promoted this mess and they should be held accountable.. they did not want to feed WE THE PEOPLE the TRUTH and now we willl get slapped with it…they should be made accountable… ALL OF THEM. None of them are exempt from the guilt in this matter.

  • omen11

    There is no sense in trying to explain to people about the pitfalls of Socialism since our young children and college and university alums have been brainwashed into believing Socialism and communism are the way to go but they are nothing more than complete failures for the masses. How can they not see the monstrous failures recently in places like Venezuela where the people are eating out of garbage cans. Cuba and many European nations. Without capitalism there can be no growth.