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Old Today, 05:21 PM
 
Location: Bellevue,NE
1,234 posts, read 529,423 times
Reputation: 1371

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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 Today, 05:30 PM
 
Location: Metro Detroit, Michigan
10,952 posts, read 11,245,815 times
Reputation: 11401
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 Today, 05:45 PM
 
966 posts, read 362,756 times
Reputation: 953
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 Today, 05:48 PM
 
12,381 posts, read 12,772,979 times
Reputation: 6583
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 Today, 06:18 PM
 
21,855 posts, read 9,478,397 times
Reputation: 17288
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 Today, 06:21 PM
 
16,012 posts, read 7,601,206 times
Reputation: 6039
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 Today, 06:21 PM
 
823 posts, read 133,617 times
Reputation: 362
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 Today, 06:24 PM
 
Location: Brackenwood
1,533 posts, read 391,417 times
Reputation: 2960
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 Today, 06:28 PM
 
823 posts, read 133,617 times
Reputation: 362
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 Today, 06:31 PM
 
Location: West Texas Town
153 posts, read 141,807 times
Reputation: 334
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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