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Pension chaos hits Chicago, Illinois budgets
Crain's Chicago Business ^
| July 04, 2014
| GregHinz.
Posted on 07/04/2014 10:40:22 PM PDT by george76
click here to read article
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1
posted on
07/04/2014 10:40:22 PM PDT
by
george76
To: george76
Declare bankruptcy. Pennies on the dollar.
Seems to be working for Detroit.
Just not sure how well it’ll work out for the U.S. Government...
To: george76
Love it. Let the “king” with half a finger squirm as tries to scale back union influence. Watch as he tries everything except the right thing—make the union thugs pay for their own pensions.
3
posted on
07/04/2014 10:43:27 PM PDT
by
Fungi
To: george76
guess they gotta cut the EBT Nation then...
4
posted on
07/04/2014 10:44:34 PM PDT
by
Chode
(Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY - 86-44)
To: george76
There is another option: “walk away”.
If taxes in you municipality are scheduled to become unbearable, then schedule yourself to move.
To: Born to Conserve
On it, getting things lined up right now.
So damn done with the pukes in this county.
To: george76
Last one out of Illinois, please turn off the lights.
7
posted on
07/04/2014 10:52:11 PM PDT
by
RightGeek
(FUBO and the donkey you rode in on)
To: george76
I don’t blame teachers who worked and were promised brnefits. I blame politicians who have overspent on this and everything else. They are like 3 year olds in a candy store with no concept of how much money they have. Or rather, we have.
8
posted on
07/04/2014 10:54:06 PM PDT
by
Williams
To: george76
9
posted on
07/04/2014 10:55:38 PM PDT
by
PGR88
To: Chode
This is the beginning of the end.
10
posted on
07/04/2014 10:58:37 PM PDT
by
Lurker
(Violence is rarely the answer. But when it is it is the only answer.)
To: Lurker
Beautiful Friend, the End....
11
posted on
07/04/2014 11:00:37 PM PDT
by
Chode
(Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY - 86-44)
To: All
“cannot write (the Illinois Constitution) to include restrictions and limitations that the drafters did not express and the citizens of Illinois did not approve,”
oh, we’re following the constitution now.
To: george76
They want to pretend they didn’t know this was coming. They did.
13
posted on
07/04/2014 11:12:40 PM PDT
by
GeronL
(Vote for Conservatives not for Republicans)
To: Born to Conserve
unless you rent, you’ll be stuck with property taxes.
14
posted on
07/04/2014 11:13:23 PM PDT
by
Secret Agent Man
( Gone Galt; Not averse to Going Bronson.)
To: Williams
Government officials gave unions whatever they wanted, it wasn’t their money after all. The whole thing should be considered illegitimate from the get-go
15
posted on
07/04/2014 11:14:16 PM PDT
by
GeronL
(Vote for Conservatives not for Republicans)
To: Chode
Watch property values tank. It's called PIT. Principle, interest and taxes. PIT should be below 40% of owner's monthly income. I might think my home is worth $500,000 but the buyers can only pay $400,000; there goes $100,000 of equity to the unions.
I am waiting for the collapse here in California. Already moving my business to Nevada. Screw them all
16
posted on
07/04/2014 11:17:23 PM PDT
by
Kozy
To: Secret Agent Man
To: Born to Conserve
if you on property in a massively worsening tax hell, you may not be able to get a buyer and you will be stuck with huge property taxes, whether you move or not.
18
posted on
07/04/2014 11:27:04 PM PDT
by
Secret Agent Man
( Gone Galt; Not averse to Going Bronson.)
To: Secret Agent Man
If you have little equity, stop paying the taxes and mortgage. Let it default and repo. The bank can have the bad property.
19
posted on
07/04/2014 11:48:42 PM PDT
by
Myrddin
To: george76; All
Did you see this little gem of insane reasoning in the article:
"Some still see hope in a negotiated approach in which labor groups, for instance, agree to pay more for their pensions in exchange for pay hikes. That's the "consideration" approach pushed by Mr. Cullerton.
OK, boys and girls....what's wrong with that??
20
posted on
07/05/2014 12:09:05 AM PDT
by
ken5050
("One useless man is a shame, two are a law firm, three or more are a Congress".. John Adams)
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