Posted on 12/8/2013, 1:35:40 PM by Libloather
For Chicago lawmakers who thought Tuesday's pension vote was politically dangerous, just wait until next year. Then on the docket in Springfield: gravely needed reforms for the retirement systems that benefit Chicago teachers, city workers, laborers, firefighters and police.
**SNIP**
Combined, the city of Chicago's four pension funds are $19.5 billion in the hole and only 36 percent funded. Add another $9.5 billion in unfunded liability from the Chicago teachers' fund for a grand total of $29 billion.
(Excerpt) Read more at chicagotribune.com ...
They're gonna need more loot.
Just raised State income taxes 60% (temporarily).
Makes me want to move to city. Liberals, illegals, minorities, trash, crime, and debt ... mmm, mmm, mmm Obama.
I’m sure that they are desperately trying to come up with a ‘legal’ way of making all of the state’s residents join just ‘one’ one-size-fits-all pension plan.
Oh yeah by the way people; we are going to roll your existing pension plan, IRA’s 401k’s, etc. in it to show your commitment for a fully funded pension plan for ‘all’ Illini.
I can see that this is not going to end well at all for Illinois residents, not well at all.
This is what Obama’s brought to the national level, Cook County economics. Ill-Annoy is a giant pirate ship with the slaves below deck.
“They’re gonna need more loot.”
Yup. And in the big picture do you know where they’re gonna get it?
Hint: If you like your 401(k), you can keep your 401(K). Period.
Gun control, high taxes, crowding. Yep - sounds like paradise.
Call me jaded, but there isn't much gun control in Chicago. Shootings across city kill 1, injury 7. I knew I could google a story on a lack of gun control before I wrote this post. These city yuts have no idea how to handle a gun. I guess they are too busy with school work to get to enough range time to be accurate. I only wished they would kill each other off.
It was 67%, and there’ll be nothing “temporary” about it.
I think cities need to be treated like the Post Office. Force them to put money aside for pensions that were promised for current workers and retirees. They need to end pensions for anyone starting in any government job starting tomorrow but they need to fulfill the promises made on the pensions that were promised. The city spent all the funds that were given by the employers for their pensions on other things. Huge arrests should be made by those that spent those funds.
This is where we are as a country now that Obama has saddled the US with unsustainable debt.
The Illinois State Legislature after much feet dragging and attempts to "run out the clock" on the court order finally passed a STATE-WIDE law which effectively eliminated Chicago's handgun ban.
The new law requires a "training class" and payment of a fee in order to be given a conceal-carry license.
The "implementation" of the law has been pending development of course requirements and certification of training instructors by the Illinois State police.
Applicants will have to prove they completed the course, submit to a background check before getting their conceal/carry license.
Now about Chicago's murder rate: TWO Neighborhoods in Chicago are responsible for 95% of the murders in Chicago. Many of those murders are gang on gang crimes although these hoodlums just spray their bullets all over the place and end up killing innocent kids, etc..
These numbers are for all practical purposes unmanageable, Default will occur,as will riots, shootings, and ultimately Detroitsville. 2.0
They “said” it was only temporary. I was being sarcastic.
How did they get away with pension reforms for the State of IL except Chicago? Since most large cities are heavily Democrat compared to rural areas in all States, is this the new normal?
You are of course completely correct. Gun control is only for the poor middle class fools that actually obey the law. The elites can all get and carry guns, with a wink and a nod from our rulers. The gang bangers don’t care about the law.
Why should the people bail these pensions out? If the crooks hadn’t of stolen them in the first place.
So one of the headlines I read in the Chicago Tribune this morning (after reading and responding to your post) said "Surprise! Temporary Income Tax Hike May Be Permanent."
I think we all knew when they said "temporary" two years ago it was going to become permanent. Still, we shouldn't be letting the crooked theiving bastards off the hook .... 2014's an election year for the Illinois State Legislature and the crook Pat Quinn.
The alleged "pension reform" they passed was for State Employees.
Chicago has to address it's CITY employees on its own.
There's much debate as to whether or not the State Pension Reform just passed by the IL legislature and signed by the crooked Pat Quinn will withstand a court challenge as to it's Constitutionality here in IL.
All I know is this: If Mike Madigan, John Cullerton, Christine Radogno and Pat Quinn are happy with what they passed, then the rest of us sorry bastards that live in this state better hold onto our wallets. You just know it's not gonna be good for the taxpayer.
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