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Monday, March 18, 2013

Kotek: "PERS is fine, and anyway, it's all Wall Street's fault"

Government employee pensions in Oregon would have been no problem had it not been for Wall Street greed -- so says the speaker of the state House, Tina Kotek. And it's just a passing issue, she suggests; things will correct themselves in time. Uh huh.

Kotek's not the first, nor the only, openly crazy person in the legislature on the pension front. That Devlin guy from Tualatin is proposing that the government simply reduce funding for PERS by mid-nine figures for a couple of years, until the tooth fairy gets here with more money. Sure, that ought to help.

The departure of Nutsy Smith reduced the comedy potential in our state capital, but it's still quite clearly a clown show most days.

Comments (21)

Maybe somebody should tell that guy that the stock market is currently at all time highs.

"We need a short term solution."
Being in her position, I don't think we can call her ignorant. Let me think now what other description might fit:
stupid, delusional, off her medication,....

So record low interest rates and a record high stock market is the FAULT of "Wall Street Greed", WHO will be at fault when interest rates rise (and they will) and the resulting decline in stock prices?

Whatever you do, don't read any interviews with a former Treasury official under Reagan named Dr. Paul Craig Roberts.
Don't ponder what Cyprus means either.

“OK, this is too stupid for words.”

"PERS is fine and I'm gonna get mine!"

Yeah, and if those crooks on Wall Street don't give us an annual yield of at least 8%+ each and every year, then the taxpayers will just have to pony up.

All kotek cares about is pleasing SEIU.how liberal pieces of garbage like her keep getting voted back in by portlanders especially when she has never done anything is riddiculous.She has the occupy portland liberal attitude blame wall st for everything.wall st has no control over state pensions or state spending Tina.

Everything is going to be fine. In fact there is a new holiday coming very, very soon!


Weeee! Your money taken directly from your accounts to pay off the bankrupt banksters!

Everything is fine.

First step to fixing PERS is to eliminate the ability of politicians to ever, EVER, draw a pension from it.

Yeah, Tina, paying the former U-of-O football coach what, like a half million a year (and numerous similar OUTRAGES too numerous to count) is Wall Street's fault? Kotek is a cheap political hack and a total buffoon.

Did wall street twist arms down at Salem to approve the CRC bridge?
If they were really concerned about PERS seems to me they would take some prudent steps instead of weighing the community down with more debt. So we have this continuation of spending and debt without concern for the people who are NOT on PERS.

First step to fixing PERS is to eliminate the ability of politicians to ever, EVER, draw a pension from it.

And next get the judiciary off of it. They oughtn't be ruling on their own system when it comes before them.

I agree 100% Tankfixer! Political office should be transistory in concept and there should be no need of a pension for when the office holder returns to public life. The idea that someone stays in long enough to qualify for, let alone need a pension is an affront to the idea of citizen based goverance. Whenever a politician uses the word "service" as a reason whey they crave public office I gag. They have no concept of the idea of true service. Anyway, sorry for the rant. The older I get and the more I hear of "safe" districts the more I like term limits.

Mr. Devlin's reasoning sounds positively Republican: we can strengthen PERS by contributing less money to it.

OK, so Kotek says its temporary and Devlin wants to skip payments.

Either way, its more of take $1B extra out of general funds and the schools and throw it at PERS contributions and slowly watch the number grow each year.

God, these people are really scared of even making small noises around the public employees' unions.

Remember, these are the people the O and WW keep calling best of class.

Just another in the long line of Democrats who are minions of unions. This lady surely isn't so stupid as to believe the gibberish she spews. Or is she?

Kotek is a fool if she thinks anyone buys her spin.

The hoax would be made obvious if there was an Oregon business which was using the same pension accounting methods that PERS uses. Kotek would be foaming at the mouth about irresponsible business owners who are taking advantage of their employees. But when it is the State of Oregon who can't figure out how to fund the pension benefits that they agreed to then suddenly it is someone else's fault. Kotek, and the rest of the liberals in Salem are spineless scum. They gave away the farm and now they refuse to take any responsibility for it. They aren't fooling anyone, we all know they screwed up. We also know that they refuse to take responsibility for it. I can't imagine anyone is actually buying the "Wall Street took your money" spin. As pointed out earlier, the stock market is near an all time high and yet PERS is still going broke. Kotek is just too stupid (or lazy)to figure out a solution.

things will correct themselves in time

Oh yeah, they always do. A "correction" to zero funds available is coming someday. I don't think that's the correction she meant, but hey these financial terms actually mean something.

The first thing Ms Kotek should do is change her last name. It is tough enough to be dumber than a fence post.

I think Tina's political idiocies belong at the table, after all, she is from Portland and represents her constituents views rather well, as silly as they are.

The real question is how did she end up in charge? For all of Salem's flaws, they still owe it to all of us to keep the children on the back bench and throw them a recycling project to work on now and then.

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