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Old 05-19-2017, 06:21 PM
 
Location: Tempe,AZ
1,782 posts, read 801,979 times
Reputation: 1812

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https://www.wbez.org/shows/wbez-news...7-e74db47c208d

Supposedly, now CPS is borrowing at high interests because of it's bond rating just to make pension payments.

I wonder how many more states are going to start borrowing just to pay legally obligated pensions in the coming years?

It seems as though borrowing to make payroll is becoming a new trend.

https://www.wbez.org/shows/wbez-news...7-e74db47c208d
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Old 05-19-2017, 06:30 PM
 
Location: Metro Detroit, Michigan
11,401 posts, read 12,064,525 times
Reputation: 11946
Propping up your mess with debt suddenly became in favor under Obama. I guess we can see where he gets his debt and spend tendencies from...
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Old 05-19-2017, 06:45 PM
 
1,307 posts, read 511,386 times
Reputation: 1234
Quote:
Originally Posted by andywire View Post
Propping up your mess with debt suddenly became in favor under Obama. I guess we can see where he gets his debt and spend tendencies from...
I think he got it from Reagan.
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Old 05-19-2017, 06:48 PM
 
12,782 posts, read 13,408,468 times
Reputation: 6912
Quote:
Originally Posted by lovecrowds View Post
https://www.wbez.org/shows/wbez-news...7-e74db47c208d

Supposedly, now CPS is borrowing at high interests because of it's bond rating just to make pension payments.

I wonder how many more states are going to start borrowing just to pay legally obligated pensions in the coming years?

It seems as though borrowing to make payroll is becoming a new trend.

https://www.wbez.org/shows/wbez-news...7-e74db47c208d
If that's how Chicagoans want to run their city, it's their business. They voted for all of that over the years.
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Old 05-19-2017, 07:18 PM
 
26,566 posts, read 11,505,831 times
Reputation: 18883
Quote:
Originally Posted by doc1 View Post
If that's how Chicagoans want to run their city, it's their business. They voted for all of that over the years.
As long as I'm not on the hook to bail them out, they can sink themselves if they choose.

Just wait until they have to tax the "new rich", aka the middle class, even more to get this under control.

Chicago liberal, "Tax the rich!"

Opens tax bill, "Wait, I'm not rich!"
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Old 05-19-2017, 07:21 PM
 
17,959 posts, read 8,656,439 times
Reputation: 6915
Quote:
Originally Posted by doc1 View Post
If that's how Chicagoans want to run their city, it's their business. They voted for all of that over the years.
Chicago is on its way to becoming the new Detroit.
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Old 05-19-2017, 07:21 PM
 
1,746 posts, read 346,751 times
Reputation: 708
Quote:
But CPS lacks enough cash to make the full $716 million pension payment because state grants are delayed. CPS says it’s owed $467 million by the state.



Republican Governor needs to get some work done is what it sounds like.
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Old 05-19-2017, 07:24 PM
 
Location: Brackenwood
1,976 posts, read 617,490 times
Reputation: 3898
Quote:
Originally Posted by 8won6 View Post
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Republican Governor needs to get some work done is what it sounds like.
Can't get anything done when the leaders of the Democrat-controlled legislature won't even sit down with him.
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Old 05-19-2017, 07:28 PM
 
1,746 posts, read 346,751 times
Reputation: 708
Quote:
Originally Posted by Bitey View Post
Can't get anything done when the leaders of the Democrat-controlled legislature won't even sit down with him.
where can I read about this? do you have an article?
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Old 05-19-2017, 07:31 PM
 
Location: West Texas Town
160 posts, read 159,831 times
Reputation: 362
Quote:
Originally Posted by Drewjdeg View Post
I think he got it from Reagan.
Ross Perot almost seems quaint nowadays. Running for president in 92 because of the massive 4 trillion dollar debt run up by Reagan/Bush.
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