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Bankrupt Illinois Cities Forced To Cut Services To Fund Pensions
Mish talk ^ | 20 Sept 2019 | Mish

Posted on 09/22/2019 7:53:21 AM PDT by DUMBGRUNT

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To: napscoordinator
Too bad. The workers did the time. City needs to keep the promises

The City isn't going to keep any promises.

The politicians who made those promises are all long dead and beyond retribution. The "promises" were a Ponzi scheme and the bill comes due in this generation. The voters who accepted those "promises" had their eyes wide shut.

"Tell me lies, tell me sweet little lies".

The ones who cashed out early got away clean with their swag. The ones who stayed too late at the party are going to be out of luck.

41 posted on 09/22/2019 9:55:18 AM PDT by flamberge (The wheels keep turning)
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To: Savage Beast

You betcha! I have never been so busy!

A friend started a business mid 80’s, I took a pass on being a partner, but did work for him.

He started every morning at O-dark thirty AM and attempted to leave at 5 PM. Many years no vacation. In fact a few years I took home more than he did.
They did 36M last year, so he’s doing ok now.

He retired last year to build a house! He’s the general contractor and does all the scutt work. Never stops!


42 posted on 09/22/2019 10:00:01 AM PDT by DUMBGRUNT (one hal)
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To: Lurker

State can forbid access to the Courts.

See#34

Heard anything?


43 posted on 09/22/2019 10:03:05 AM PDT by DUMBGRUNT (one hal)
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To: DUMBGRUNT
Wasn't your son, I sold my home there in May of last year.

If he's complaining about his property tax bill there, well .. it's Homer Glen so Will County treats it like a big wallet and keeps raising taxes.

44 posted on 09/22/2019 10:09:55 AM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: DUMBGRUNT

“State can forbid access to the Courts.”

I’d like to see case law on that. I’m certain the Federal courts would take a very dim view of such a State law.

“Heard anything?”

An article in Crain’s sometime in the last two weeks or so advocating this very course of action. Found it at SecondCityCop of all places. I’m sure it’s being discussed very, very quietly in more than one City Hall around the State.

Chapter 9s have already been filed by a few California entities and the pension plans tossed. I don’t see how the Illinois legislature can stop it, law or no law.

If you know of some Federal case law on it I’d love to see it.

L


45 posted on 09/22/2019 10:11:11 AM PDT by Lurker (Peaceful coexistence with the Left is not possible. Stop pretending that it is.)
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To: DUMBGRUNT

The municipalities can disincorporate and dissolve. Then there is no one on the debtor side of the contract.


46 posted on 09/22/2019 10:14:41 AM PDT by T Ruth (Mohammedanism shall be destroyed.)
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To: Lurker
$7k for 1,200sf in Dupage County?! OUCH!

Downsized from my 3,400sf home in Homer Glen (Will County) last May. My last property tax bill there was just over $9k.

Out of idle curiosity I looked it up when I was paying my bill for my 2,400sf townhome back in Crook County.

I honestly feel bad for the new owners of my old home. Homer Township Assessor jerked the bill up to just over $11.5k.

Honest to God, I don't think I could've stopped myself from driving a tank over the Assessor's office with the Assessor in it if I'd have gotten that bill.

Here in Crook County, my property tax bill is just over $4,200 for my townhome. I tried like hell to find someplace cheaper that I liked and this was the best deal I could find for something reasonably sized and met my requirements.

Next step is out of Illinois at this point. Just finished the remodeling of this place (all the updates) and am going to list it soon. I'm interviewing in South Carolina and Tennessee (preference: Tennessee.)

I won't make the money I make here, I won't need it though with the lower taxes and lower cost of living elsewhere!

47 posted on 09/22/2019 10:16:16 AM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: usconservative

“I won’t make the money I make here, I won’t need it though with the lower taxes and lower cost of living elsewhere!”

We have some friends who moved from Wheaton to the DFW area at the end of last year. Same jobs, same company, same salaries. They told us it was like getting a $35k raise between them.

They bought a five bedroom house on about an acre. Set them back right around $200k. They had enough left over from the Wheaton sale to put a huge pool in the yard.

No income tax, property taxes half of Illinois, a huge financial bump just crossing the State line. We plan to follow them as soon as humanly possible.

L


48 posted on 09/22/2019 10:22:57 AM PDT by Lurker (Peaceful coexistence with the Left is not possible. Stop pretending that it is.)
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To: DUMBGRUNT

I can’t believe Illinois is going to beat California to State Bankruptcy, I’m sure Wonder Boy Newsome is scheming right now to catch up.


49 posted on 09/22/2019 10:30:05 AM PDT by eyeamok
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To: DUMBGRUNT
This is why Chicago wants to run the electric utility. They want the ratepayer money to be re-routed into the pension fund, all the while not paying on maintenance on the utility grid.
50 posted on 09/22/2019 10:47:26 AM PDT by Vince Ferrer
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To: Vince Ferrer
You forgot:

And then they'll blame the utility company when shit breaks bad!

51 posted on 09/22/2019 11:01:42 AM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: Lurker

If you know of some Federal case law on it I’d love to see it.

ME?
Case law?

I have difficulty with traffic laws in large print posted next to the roadway!


52 posted on 09/22/2019 11:37:23 AM PDT by DUMBGRUNT (one hal)
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To: JPJones
That's the start of the death spiral. The worse things get, the fewer people will stick around to fund the pensions. People will leave if they can, and most of them will find a way to do it. Population: 1960 81,728 −0.8% 1970 70,029 −14.3% 1980 55,239 −21.1% 1990 40,921 −25.9% 2000 31,542 −22.9% 2010 27,006 −14.4% Est. 2018 26,346 [3] −2.4%
53 posted on 09/22/2019 11:40:07 AM PDT by Flash Bazbeaux
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To: mewzilla

I want govt employees and retirees to live in the filth they created....but they don’t ...they move to conservative well run areas.....


54 posted on 09/22/2019 12:06:06 PM PDT by cherry
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To: flamberge

look, judge just basically gave the average teacher in this state a 16% raise....the rats reward their people.....which is why I think Idaho is our next destination..


55 posted on 09/22/2019 12:08:24 PM PDT by cherry
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To: DUMBGRUNT

One just cannot beat a Democrat run state or cities


56 posted on 09/22/2019 12:34:10 PM PDT by okie 54
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To: mewzilla

Great article at the link. I read Gibbon long ago and remember little.

The wonder isn’t that Imperial Rome fell, but rather that it lasted so long.

The same goes for the US. James Madison predicted a new Constitution around 1930, presumably to accommodate one that tended toward the monarchical form. We got FDR in 1932, the closest prez to a monarch outside, perhaps, of Bammy.

As with Rome, the wonder is our longevity despite decades of open corruption.


57 posted on 09/22/2019 1:33:28 PM PDT by Jacquerie (ArticleVBlog.com)
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To: DUMBGRUNT

And not only does such joy continue until the end of this life, but it continues with even greater passion in the life to come!


58 posted on 09/22/2019 1:48:14 PM PDT by Savage Beast (You'd think they'd learn from the Roadrunner Cartoons, but they just send off to Acme and try again.)
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To: DUMBGRUNT

Ever hear the public service unions ever consider the fact they are destroying cities and towns? Ever hear a public servant say he realizes the damage their demands are causing?

Used to think very highly of cops and firemen. Now - not so much.


59 posted on 09/22/2019 3:09:16 PM PDT by raybbr (The left is a poison on society. There is no antidote. Running its course will be painful. You)
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To: DUMBGRUNT

All taxes go to pay the fat pensions first. Anything left over they will consider spending it on road repair but more likely on crooked deals that benefit them and the people who bribe them.


60 posted on 09/22/2019 6:35:24 PM PDT by minnesota_bound
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