0'Zer0 has about 0.25T in the 2011-2012 budget for Chi Town.
Pizza & beer set-a-sides too boot!
Posted on 02/14/2011 7:32:37 PM PST by mewykwistmas
Just when Chicago's fiscal problems looked they couldn't get much worse, a new study shows that the city now faces nearly $23 billion in unfunded pension liabilities, the Chicago Tribune reports.
Chicago's unfunded pension obligation has increased 600% since 2000, according to the report, released by the city's Civic Federation. When combined with state pension debt, unfunded liabilities on public employee pensions would now cost each Chicago resident more than $11,934.
Much of the blame rests with Illinois' pension code, which allows local governments to avoid paying their contributions to public employee pension plans. This problem is exacerbated, the report says, as the number of retirees exceeds the number of active public employees.
(Excerpt) Read more at businessinsider.com ...
I’m sorry but LOL.
It just seems so fitting.
No wonder Mayor Daley decided it was time to leave.
Well, I’m sure that Rahm can deal with it.
That's just like blaming the "evil SUV" for going wild and hurting people.
Sorry, it's the criminal behavior of the political ruling class at all levels where the blame rests. Just how did the "Illinois pension code" come into existence? Did it spontaneously form?
Rahm may be sorry he ever left the WH.....
0'Zer0 has about 0.25T in the 2011-2012 budget for Chi Town.
Pizza & beer set-a-sides too boot!
I too, am laughing my buttocks clean off. ;-)
And it could not possibly happen to a more deserving bunch of pinheads.
Just wait until he finds out that Chicago can't print money like the feds do.
And Obama has consolidated a lot of power in Chicago since taking office.
It couldn’t happen to a nicer city.
Pigs at the trough. I’m sure they will find a way to blame republicans for it. At the least Bush will be to blame.
Sez who????.....
Whats next tax welfare benefits to pay for the pensions?
Unexpected.
Daley’s regularly been declared the most powerful mayor in the world... by stink.
Sir, I think your HALF right. Meaning yes it’s “the criminal behavior of the ruling class” but it also took a million or so Chicago moron voters to elect the marxists that voted for all these pensions!
Same goes for Obama, tens of millions of voters voted for him? Ergo, we got what “they” deserve!
Bump for later.
Pass everything Obama by one vote.
do I really have to say it???
Ya Think? This of course is further "exacerbated" when many of the retirees are actually dead but their checks is being cashed by the machine or the DNC directly.
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