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Prices going up, employment going down

February 25th, 2012 at 03:00 pm

It's been an odd few days. We received our home insurance bill and it went up almost $100. I guess it is because of so many claims all over the country. In the almost 22 years we have had homeowner's insurance, we had one claim and it was to replace a small area of guttering when the ice storm had a tree hit our house.

Gas prices skyrocketed. I know that was everywhere in the U.S. What we find interesting is although the local service stations have already bought some of the gas, as soon as they catch wind of oil prices going up, they raise the price, although they haven't bought any of the new gas.

Our governor is trying to cut things everywhere. He's trying to figure out how he can cut teacher pensions. I understand that our state is in trouble, but Illinois teachers pay a huge amount of their paychecks for their pension. Unfortunately the legislature hasn't kept up their end of the bargain for years and has raised the pension plan to pay for projects they wanted. Now the governor wants to cut the health insurance. Teachers pay for their health insurance so it isn't like they get it free.

It is getting scary since I'm getting closer to retirement. I'm hoping there will be a pension plan and insurance plan when my time comes. Illinois teachers are not eligible for Social Security.

Our city has been hit with layoffs at two places this week. I know the national news says the recession is over, but our unemployment has remained high. Now with these two major employers laying more off, it is getting downright frightening.

Hope things are better where you are!

Posted in Personal Finance | 5 Comments »

5 Responses to “Prices going up, employment going down”

  1. emanon1501 Says:
    February 25th, 2012 at 04:02 pm 1330185749
    1330185749

    I live in central IL too. Its not just what you explained, the cost of living, such as property taxes, has gone up so high that we are thinking about moving out of state. Frown

  2. Joan.of.the.Arch Says:
    February 25th, 2012 at 04:32 pm 1330187552
    1330187552

    We are already on a teacher's pension in a neighboring state so I know your anxiety. Our pension system has been well run privately and would just be another turnip from which to drain blood if the state took it over. We made lifelong decisions based on employment contract earnings and pension. We cannot un-do 30 years history to change our other savings to make up for pension cuts. We have not been re-miss in other savings, but cutting the pension now would be pulling the rug out from under us.

  3. CB in the City Says:
    February 25th, 2012 at 09:50 pm 1330206634
    1330206634

    I have been watching the news about the teachers' pensions and it worries me, even though I am not a teacher. I just can't believe that a state would punish the TEACHERS for their bad decisions! What group is more selfless, more giving to society? And there are so many! A lot of votes to lose!

  4. LuckyRobin Says:
    February 25th, 2012 at 10:24 pm 1330208654
    1330208654

    I hate the idea of any state trying to screw their teachers over by stealing their retirement money.

    I keep hearing about gas prices rising, but the gas prices are the same here this month as they were last month. Holding fairly steady.

  5. rob62521 Says:
    February 26th, 2012 at 12:23 am 1330215839
    1330215839

    Thanks for your positive comments!

    Emanon, I live in Decatur. Do you live near?

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