A little-noticed bill teed up for action in Springfield would sweeten pension benefits for thousands of current and future Cook County retirees — an action the sponsor says is needed to repair a legal defect but one that, if taken statewide, could cost taxpayers "billions."
That’s what happens when you try to solve the debt issue with the smoke and mirrors of “reform”. More taxes need to be directed towards pensions. There is no easy way around this and the safe harbor rules were always going to force this type of change.
Much higher taxes are needed to even come close to the cash flow burn. If you do not like it, do what hundreds of thousands already have done. Get out of Dodge ASAP.
The Railroader
3 years ago
They can’t pay the existing liability, so the idiot politicians pile on more unpayable liability.
Where the Hell is Chicago’s media on this? Useless as always.
#JournalismIsDead
Juicy Smollier
3 years ago
Yes, people, I’m back! But I did move to a red/free state. Enjoying all that crime and higher property taxes yet? LOL.
So what does the Crain’s article say? I don’t get it, paywall action.
Poor Taxpayer
3 years ago
The system is broken, morally and financially.
Giddyap
3 years ago
Another bailout for Cook County’s bloated, fraud-ridden pension racket
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
That’s what happens when you try to solve the debt issue with the smoke and mirrors of “reform”. More taxes need to be directed towards pensions. There is no easy way around this and the safe harbor rules were always going to force this type of change.
Much higher taxes are needed to even come close to the cash flow burn. If you do not like it, do what hundreds of thousands already have done. Get out of Dodge ASAP.
They can’t pay the existing liability, so the idiot politicians pile on more unpayable liability.
Where the Hell is Chicago’s media on this? Useless as always.
#JournalismIsDead
Yes, people, I’m back! But I did move to a red/free state. Enjoying all that crime and higher property taxes yet? LOL.
So what does the Crain’s article say? I don’t get it, paywall action.
The system is broken, morally and financially.
Another bailout for Cook County’s bloated, fraud-ridden pension racket
LOL Tier 2 was never real…
It was always a mini ponzi, in the larger one, yes … at one time I was part of it. Thank God I took that with me and am out!