Pension funding casts a shadow over Chicago’s ‘status quo’ budget – The Bond Buyer

Chicago Mayor Rahm Emanuel received a rating agency warning over the risks posed by pension borrowing while his successor was cautioned against a slip backward on Emanuel's budget and pension funding progress.
2 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Rick
5 years ago

The article basically says that Rahm hasn’t adequately screwed over the taxpayers enough in his plan. Municipal bonds are rated based on how thoroughly they screw over taxpayers, nothing else. Good ratings come from solid collateral (aka the taxpayer). If that collateral is delivered to the market, even immorally, it results in good ratings. The article names over and over “structural” changes are not enough, meaning essentially, that they want the people screwed over more.

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check all you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

A statewide concern: Illinois’ population decline outpaces neighboring states – Wirepoints on ABC20 Champaign

“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”

Read More »

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE