ILL GOP Hypocrisy on Privatization

[americaheldhostile]

Apparently, Illinois Republicans don't think that investing pension money into the stock market is a
good idea. See: http://www.ilgop.org/news/contentview.asp?c=4925
Illinois Republican Party (ilgop.org)

"Second: The state will, in effect, be borrowing money and throwing much of it in the stock market, betting that the market will provide a very robust return over the long term. But if the market does not perform well, the state will be saddled with diminishing pension assets and all that debt. Pension fund investments performed very well during the go-go 1990s. But the value of state pension system assets dropped by $5.7 billion between 2000 and 2002, while the systems' liabilities increased by $13.7 billion."

Why is it that they don't want _this_ money going into the stock market, yet, they seem to back Bush on his SS privatization scheme? Isn't this a glaring bit of hypocrisy?

James G Wilson
http://www.felineleukemia.org

[pissed_American]

1. You act surprised.

:wow:

[Kerrytravelers]

2. And this glaring bit of hypocrisy is different from every other ---

glaring bit of hypocrisy how?

Seriously, the bravado with stupidity is amazing, isn't it?

[DBoon]

3. The only thing that surprises me

is that they think throwing public pension money into the stock market is a bad thing.

Have Republicans in your state attained an unexpected state of sanity?


I thought they would support destroying public pension funds by dumping them into a sagging stock.