Posted on 03/02/2015 9:36:01 AM PST by Kaslin
Last week I wrote an article for the Illinois Policy Institute on the hugely unfunded and deteriorating nature of numerous Illinois' pension systems.
I will post the article on Monday.
My article was on on state pension systems, not Chicago's, and was written well ahead of downgrades of Chicago's debt by Moody's on Friday. I was not surprised to see the downgrade.
(Excerpt) Read more at finance.townhall.com ...
If I ask a guy to go and rob my neighbor and give me part of the money he steals, then I am also a criminal. If the Democrat voters elect Democrat thieves to office to steal for them, then they are thieves, too. Eventually, the victims leave the neighbor hood, and then the thieves sit around complaining about how there’s not enough people to rob. Figure it out Democrat voters. Quit voting Democrat.
ABOVE?!
Who are they kidding?
They have a simple solution!
Elect the Mexican guy to run the city - after all, isn’t Mexico a paragon of civic responsibility and sterling municipal management?!
That should make the bond buyers happy!
Because they will sell every last damn bond and run...
Personally, I think that Chicago is trying to one-up Detroit.
And Illinois is not that far behind.
What a country!
A Jewish guy vs a guy named Jesus.
Yep. Rahm has overseen Chicago sinking into a fiscal morass.
Rahm is a Good Democrat. I thought Democrats were supposed to be fiscally responsible, while Republicans want to cut taxes and throw Granny off a cliff??? What the heck???
So, I assume this will make it much more expensive for Chicago to borrow the money to pay their pension obligations thus increasing their debt even more. Dig that hole.
the camel sticks his nose under the tent and finds that Rahm was mostly hamstrung by Rich (don’t call me Richie) Daley
Two Steps Above Junk , Chicago better get a Cup
BTTT
The bonds are two steps above junk; the mayoral candidates are two steps below junk. The future does not look bright.
Two Steps Above Junk
Take that, Russia!
California can’t be that far behind.
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