Monday, April 22, 2019

City of Chicago Pensions... Ponzi Scheme?

WIREPOINTS: SOON TO BE MORE CHICAGO PENSIONERS THAN ACTIVE WORKERS 

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From Wirepoints April 22, 2019: 
You can’t help but call it a Ponzi scheme. Not if you look at Chicago’s collapsing demographics and consider how they’re threatening the solvency of the city’s government-run pensions. Chicago households are on the hook for more than $145 billion in state and local retirement debts and there are fewer and fewer people left to pay them.
Consider first Chicago’s falling population. The city’s metropolitan population has fallen four years in a row. It’s the only top-ten city to shrink like that. In all, the Chicago MSA lost 66,000 people between 2014 and 2018.
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9 comments:

  1. Anonymous4/22/2019

    Finally some one else sees what is happening. And don't forget the 5 Mike Madigan early retirement programs from the 90's where you could have 20 yrs and age 50 get 50% of your exit salary or pay the 2% for up to 10 years and get a 30year pension (67%).

    This has to stop.

    ReplyDelete
    Replies
    1. Anonymous4/22/2019

      it will when the people with REAL jobs and not Irish Welfare jobs flee the state and the REAL tax money stops flowing. You cant recycle toilet water.

      Delete
  2. Anonymous4/22/2019

    Illinois politicians are also arrogant enough to think that out-of-staters will continue to move into Chicago and just assume new debts the size of a mortgage, but with nothing to show for it.

    ReplyDelete
    Replies
    1. Anonymous4/23/2019

      the power of the internet keeps people informed enough to keep people out. business people know not to come here.

      Delete
  3. Anonymous4/22/2019

    YES

    ReplyDelete
  4. DON'T CUT MY PENSION!!!!4/23/2019

    Rule number one, ACT ALONE tell NOBODY, EVER. Don't say cutesie innuendos at the bar.Plan. Make it quick and decisive. Know the risks. Do it. Shut your mouth. Repeat keep your mouth SHUT. Conscience may bother you on occasion and give you doubt about your actions. Ignore it it'll pass. Remember you did civilization a solid.

    ReplyDelete
  5. Anonymous4/23/2019

    Soon Illinois will tax retirement money, if your pension comes from an Illinois based governmental entity or corporation Illinois will tax it at the source. You voted Democrat all those working years now you can support what you created during retirement.

    ReplyDelete
  6. Anonymous4/24/2019

    ITS COMING!!

    ReplyDelete
  7. Anonymous5/07/2019

    Cap pensions at $100,000 now.

    ReplyDelete

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