give them a cup full of pencils for their pension, and they'd STILL be over compensated...
Posted on 06/22/2011 2:05:38 PM PDT by Lmo56
The average Chicago household now owes a staggering $63,525 to cover local government debt, according to Cook County Treasurer Maria Pappas.
Suburbanites are deeply in the red, too, with the average household owing $32,901, according to the treasurer.
Among the biggest reasons: $25 billion in unfunded pension liability.
(Excerpt) Read more at chicagobusiness.com ...
“average household owing $32,901”
I would guess this excludes mortgages
The effects of thehuge state tax increase will be interesting to observe, in that revenues will NOT go up by a corrsponidng amount...they may even drop in real $$ terms..then what do they do?
We need to get things straight here. Why do the keep saying the taxpayer owes this money? The taxpayer does not owe this money. The people and/or agency; etc. owe this money. They recklessly spent and/or stole the money.
Their lottery style government retirement pensions are now threatened..
Pay up tax payers.
Remember folks...you voted them in, now they want the vigorish that they spent to get the votes
A: Because they won't be around to pay the bills. You will.
He was more right than I could have imagined.
Crook County is more like it.
Crooked politicians steal from the taxpayers and call the county itself the victim. Electing LIEberals has consequences-—not so pretty is it.
Idiot. Try collecting it and watch Chicago turn into Detroit. When residents leave Chicago, their share of this "debt" magically disappears.
The ultimate Corruptocracy
give them a cup full of pencils for their pension, and they'd STILL be over compensated...
The Chicago gun owners who have them now won't know the difference or feel the pinch even if they double the taxes again and confiscate all the private property in the city to make up the shortfall.
As long as the politicians don't start taxing the illegal drugs to make up the shortfall, they should be safe enough (or at least as safe as everyone else) if they stay off the streets, off the beaches, and out of the stores...
I’m just wondering how all this “glad I moved x number of years ago from this shithole or the other” is ultimately going to play out. Are we actually going to cede parts of this country to RAT corruption? If we are willing to try and do what’s necessary to save our country, why are there so many of us who are willing to leave where we are to go somewhere else in the hope of finding a better place. Are we going to leave little ( or not so little “Detroit’s” all over the country? When do we stand and fight? Inquiring minds want to know.
Sadly, I don’t think much will change. There are too many voters who think they will get more than they will have to pay, so they will continue to vote for the same crooks over and over....If it gets to the point where they don’t feel that way anymore, it will be time to head for the hills....
Wait until the COLA increases kick in...for those pensions that have them. They are screwed.
The check’s in the mail, Maria.
No, welfare cheats and criminals in the city vote these bums in and screw the rest of the state.
From the article - “Ms. Pappas’ report does not include totals from 55 of the county’s 553 local units of government, which failed to report their debt figures to her.”
So if I read this right, there are 553 units of government in ONE county? It’s no freaking wonder they owe so much money. 553 units of government??? Are you kidding me?
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