If you’re going to be required to pay for something, common sense would say that you should have the right to know how much it costs, right? After all, no one likes surprises—especially if those surprises cost trillions and you, your children and your children’s children are likely going to have to pay for it for decades to come.

Yet, there are those who seem to think that the American taxpayers will forever just keep shoveling our money into the furnace of bailing out banks, car companies, and union pensions funds. Moreover, these same putrid people (be they bureaucrats, bankers, or union bosses) seem to think that, if they hide the truth from the the American taxpayer, we will just blindly and willingly keep bailing out failure. Have they learned nothing over these past two years?

The Ticking Time Bomb

On Saturday, three examples were given of the public pension Ponzi scheme that is beginning to unravel. In one case (Central Fall, RI), the costs have put a city into financial ruin. In Chicago, Mayor Daley is openly talking about reorganizing the city’s pension through bankruptcy. Then , of course, there’s California and newly retread governor Jerry Brown and the 30-year old legacy of union domination in the tarnished Golden State.

However, just so you know that Saturday’s three examples are not mere isolated incidents, you might want to know the following:

• In 2011 70% of Decator, Illinois’ property taxes will go to fund union pensions (h/t anacreon)
• Illinois, as a state, has $54.4 billion in unfunded liabilities
• New Jerseyans owe their public pension plans up to $173.9 billion and it was discovered the Democrat-run state allegedly defrauded investors without disclosing the debt as bonds were sold from 2001 through 2007
• New York State may have $120 billion in unfunded pension debt
• New York City, on the other hand, may have had up to $76 billion in unfunded liability before 2008’s market slump
• The City of Philadelphia’s public pension plan is nearly $5 billion underfunded
• Oklahoma has $12 billion in unfunded pension liabilities
• Colorado has $16.8 billion in unfunded pension liabilities
• …And the list goes on and on…

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Washington News Observer interviewed Congressman Steve King (R-IA) on Obama’s senior advisor – Valerie Jarrett.

Ms. Jarrett has known President Obama for several decades and moved to Washington, DC following the successful election of her candidate. Currently, Ms. Jarrett is is a senior advisor and assistant to the president for Public Engagement and Intergovernmental Affairs.