WIREPOINTS: SOON TO BE MORE CHICAGO PENSIONERS THAN ACTIVE WORKERS
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.
Read the rest on Wirepoints: Chicago’s pension funds looking more like a collapsing Ponzi scheme
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%).
ReplyDeleteThis has to stop.
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.
DeleteIllinois 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.
ReplyDeletethe power of the internet keeps people informed enough to keep people out. business people know not to come here.
DeleteYES
ReplyDeleteRule 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.
ReplyDeleteSoon 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.
ReplyDeleteITS COMING!!
ReplyDeleteCap pensions at $100,000 now.
ReplyDelete