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Pension crisis endangers Chicago's future
myway ^

Posted on 12/11/2013 5:44:55 AM PST by outpostinmass2

Edited on 12/11/2013 6:17:12 AM PST by Admin Moderator. [history]

CHICAGO (AP) - It's not the vision of a world-class city that Chicago Mayor Rahm Emanuel typically likes to portray.

More teachers losing their jobs, thousands fewer police and firefighters on duty, less frequent trash collection and miles of potholed roads going unrepaired - all as property taxes soar.


(Excerpt) Read more at apnews.myway.com ...


TOPICS: Crime/Corruption; Extended News; Government; US: Illinois
KEYWORDS: chicago; pensions; rahmemanuel
"City officials say the shortfall is due largely to investment losses during recent economic downturns, to workers and retirees living longer and to increases in benefits." They forgot to add crime, corruption and mismanagement.
1 posted on 12/11/2013 5:44:55 AM PST by outpostinmass2
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To: outpostinmass2

And would have to raise taxes by 150%??!!

Exactly WHO pays taxes here??!! What percentage of residents pay taxes??!!

DEMOGRAPHICS??!!


2 posted on 12/11/2013 5:58:58 AM PST by Cowgirl of Justice
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To: outpostinmass2
Wouldn't it be refreshing to hear these "city officials" tell the truth for once:

"It's our fault, we're Democrats. We lined our pockets and ran this city in to the ground."


3 posted on 12/11/2013 5:59:31 AM PST by smoothsailing (By the time the employer mandate kicks in we'll be hunting down Democrats with dogs.)
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To: smoothsailing

Wouldn’t it be refreshing to hear these “city officials” tell the truth for once:
“It’s our fault, we’re Democrats. We lined our pockets and ran this city in to the ground.”


That will never happen.


4 posted on 12/11/2013 6:02:12 AM PST by outpostinmass2
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To: outpostinmass2

Good news for dems. Chicago will become much more blue as the productive class flees this city.


5 posted on 12/11/2013 6:03:41 AM PST by umgud (2A can't survive dem majorities)
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To: Cowgirl of Justice

Just about every city in the U.S. is in the same boat. I predict bankruptcy in %50 of every big city within 4 years.

Democrats cannot make the hard decisions, they need the courts to do their jobs. Democrats are useless.


6 posted on 12/11/2013 6:05:02 AM PST by outpostinmass2
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To: smoothsailing

Might one ask a question? Thank you.
Is there a city that is going down the financial and social toilet that is NOT and HAS NOT been run/controlled by Democrats for years?
New York, Chicago, Detroit, a shopping list of California cities, New Orleans and, sadly, on and on.
How many businesses have, in order to simply exist, run from Democrat controlled cities and/or states?
Where I read of impending disaster I am used to also seeing the words “Democrat controlled”.
Does that tell us anything? If it does, no one is bothering to listen.


7 posted on 12/11/2013 6:07:07 AM PST by CaptainAmiigaf (NY TIMES: We print the news as it fits our views.)
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To: CaptainAmiigaf

Boston is solvent.


8 posted on 12/11/2013 6:08:34 AM PST by TheRhinelander
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To: TheRhinelander

Thank you, I didn’t know that. And I live only 28 or so miles away. Haven’t been near it for about 15 years though.


9 posted on 12/11/2013 6:16:40 AM PST by CaptainAmiigaf (NY TIMES: We print the news as it fits our views.)
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To: outpostinmass2
Democrats are useless.

Not entirely.

We need *something* to line against the wall for target practice.

10 posted on 12/11/2013 6:34:31 AM PST by Flycatcher (God speaks to us, through the supernal lightness of birds, in a special type of poetry.)
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To: outpostinmass2

One more place that needs conservatism if it hopes to survive.


11 posted on 12/11/2013 6:39:00 AM PST by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: TheRhinelander

“Boston is solvent.”

No it is not.


12 posted on 12/11/2013 6:39:34 AM PST by outpostinmass2
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To: CaptainAmiigaf

San Diego was republican controlled for decades and they have the same pension problems. The problem really is pensions and politicians. It is a deadly combination.


13 posted on 12/11/2013 6:41:25 AM PST by outpostinmass2
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To: TheRhinelander

Boston is second to Chicago in pension liabilities. Bloomberg ranked Chicago then Boston as the two most likely cities to declare bankruptcy.


14 posted on 12/11/2013 6:46:38 AM PST by Blackirish
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To: CaptainAmiigaf

Democrats are truly a vile bottom-feeding breed.


15 posted on 12/11/2013 7:06:02 AM PST by smoothsailing (By the time the employer mandate kicks in we'll be hunting down Democrats with dogs.)
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To: cripplecreek

The only way it will get conservatism is by judicial fiat. They cannot govern themselves.


16 posted on 12/11/2013 7:14:40 AM PST by outpostinmass2
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To: outpostinmass2

Show your work.


17 posted on 12/11/2013 7:16:51 AM PST by TheRhinelander
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To: TheRhinelander

http://glimmer.rstudio.com/pioneer/pensions/

Boston 2012

Grade Rank
Funded Ratio D 51/105


18 posted on 12/11/2013 7:21:00 AM PST by outpostinmass2
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To: CaptainAmiigaf

I don’t think liberals want us asking questions about which political party has run so many of our big cities for so many decades. Then there would be a way to blame Democrats for problems. The way the liberal political/media complex works, only evil Republicans are ever to blame for anything. Any bad things that have happened in the last five years of the Obama era have been the fault of someone else, or other outside forces, never Obama himself.


19 posted on 12/11/2013 7:26:57 AM PST by Dilbert San Diego
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To: Cowgirl of Justice

Well, they’re talking about property taxes, so those higher taxes would be paid by property owners. Now, if those owners own rental property, they’ll pass on as much of the increased taxes as they can to the renters.

So, who pays those higher taxes? Anyone who owns or rents property in the city. Which is most adults.


20 posted on 12/11/2013 7:32:12 AM PST by green iguana
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