are on the hook. over 30 billion dollars, the largest unfunded pension liability of any company in this country. because we are on the hook and own a chunk of this puppy still. i love the 60 day money back guarantee, if they can get those models out they re not going to make good on it. i don t see them that s what we say, and thanks. and bailout and speculate on the price of gm stock, and same as a big part of the industry that,ed would out extremely well. we can all hope that the money back guarantee works and the stock price. you argue it worked out extremely well. i think it does, yeah. adam. furthermore is doesn t matter what we think of the 60 day money back thing works or not. whoa, whoa, whoa. hello, go ahead. but my point is that even the government shouldn t have an opinion on whether or not.
getting between 7.25 and 8.25% return. they are only getting between 4% and 5%. look at that. for example, if your pension liability is 10 billion at 8%, it jumps to 13.5 billion at 5.5%, which is a big gap. listen. they keep assuming they are going to return 7%, 8% a year. even the stock market has been flat for the last 10 years. so the fact that they continue to assume such high returns is only going to put them further into debt. debt goes up, rather it goes down and the credit ratings also go down, shep. shepard: losing that credit rating makes everything more expensive. just like if your credit rating went down and mine went down we would have to pay more for loans and there are a lot of cities around the country that are having to take out loans to cover those pension costs. look at this map right here. four cities already have had multiple agencies downgrade their credit. we re talking about detroit, littlefield, texas. woonsocket rhode island. east providence rhode isl
the supreme court said he lied about the lewinsky affair. president nixon got disbarred for obstructing justice in what for gate. spiro agnew lost his license. as did f. lee bailey, o.j. simpson s attorney for mishandling client money. holder says these claims can only be described as frivolous. the bottom line is the bar screening committee will evaluate the complaint and have a wait and see the tude to see what happens in court before dismissing this or moving forward with a full investigation. megyn: thank you so much. in recent days we have been covering the story of how three california cities have had to approve bankruptcy proceedings because they could not pay their bills. yesterday this broadcast hosted a debate on the pension
still have $80 billion in unfunded pension liability while we have a fully funded retirement system here. and they are looking at mass public employee layoffs. we didn t layoff public employees in wisconsin because that doesn t help workers either. what helps workers is doing a budget within your means and not raising taxes so you lay the foundation, the groundwork for economic growth and that is exactly what we are seeing in wisconsin. we are creating jobs together and starting on june 6 we are hoping to see the employment section in the newspaper grow by inches. shannon: wisconsin lieutenant governor rebecca kleefisch. thank you for you you team and we will be watching as it goes down to the wire on tuesday. sounds wood. shannon: a major milestone vietnam. panetta talked about the vietnam importance and the u.s. plan to move more ships into the area. i think vietnam as part of
chicago about this. well, rahm emanuel who, of course, used to be the chief of staff of president obama is actually facing some of these budget cuts head on. he s acting a little bit more like a republican. rahm emanuel has put up a debt clock. and it s ticking all the time. $25 billion of unfunded pension liability in the state, in the city of chicago. $25 billion! now, you have a former mayor getting an extra $50,000 for one month s payment into a fund. what a mess. speaking of big money, facebook goes public today. mark zuckerberg and company will make a boatload of dough. doesn t go on sale today. the shares will be on sale may 18th where mark zuckerberg will be worth instantly about $17 billion. that will make him 35 roughly on the forbes billionaires list. there you have it. that s a lot of money, isn t it? he s 27 years old. wish i would have thought of it. that s all i can say. hats off to a great idea. stu, have a fantastic friday. thank you very much.