General Discussion

Panich52

(5,829 posts) Wed Apr 8, 2015, 03:58 PM Apr 2015

Now Emanuel turns to pensions.

Now Emanuel turns to pensions.

McClatchy: "...by year's end Emanuel may have to find a way to close $2 billion in budget deficits at City Hall and Chicago Public Schools. The shortfalls are driven mostly by long-bypassed pension funding costs coming due ... The current contract with Chicago Teachers Union, reached in 2012 after a seven-school-day strike, expires in June ... a once-flush teachers retirement fund has been ravaged by wholesale diversions of billions of dollars of tax money owed to the pensions over much of the past two decades."

More
http://www.mcclatchydc.com/2015/04/07/262395/for-victorious-emanuel-now-comes.html

10 replies

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Highlight:

Now Emanuel turns to pensions. (Original Post) Panich52 Apr 2015 OP

Well, hey, he is a Democrat, and won the election - so of course pensions are fair game, right? djean111 Apr 2015 #1

Not meeting pension obligations should be punishable by prison. rhett o rick Apr 2015 #2

The "third way" continues their plundering. nt TBF Apr 2015 #3

turnout was 28% n2doc Apr 2015 #4

He'll Make a great Clinton Operative. Katashi_itto Apr 2015 #5

Garcia would have had to turn to pensions as well frazzled Apr 2015 #6

My sugestion? bvar22 Apr 2015 #9

Perhaps not subsidizing projects for his buddies n2doc Apr 2015 #10

How Democratic. tenderfoot Apr 2015 #7

Emmanuel didn't create the pensions/debt mess Chicago is in --decades geek tragedy Apr 2015 #8

djean111

(14,255 posts)

1. Well, hey, he is a Democrat, and won the election - so of course pensions are fair game, right?

Reply to Panich52 (Original post)

Wed Apr 8, 2015, 04:01 PM

Apr 2015

rhett o rick

(55,981 posts)

2. Not meeting pension obligations should be punishable by prison.

Reply to Panich52 (Original post)

Wed Apr 8, 2015, 04:20 PM

Apr 2015

This is theft plain and simple.

TBF

(32,114 posts)

3. The "third way" continues their plundering. nt

Reply to Panich52 (Original post)

Wed Apr 8, 2015, 04:37 PM

Apr 2015

n2doc

(47,953 posts)

4. turnout was 28%

Reply to Panich52 (Original post)

Wed Apr 8, 2015, 04:38 PM

Apr 2015

Wonder how many public employees didn't bother to vote, or voted for Rahm? Either way, they get what they wanted.

Katashi_itto

(10,175 posts)

5. He'll Make a great Clinton Operative.

Reply to Panich52 (Original post)

Wed Apr 8, 2015, 04:39 PM

Apr 2015

frazzled

(18,402 posts)

6. Garcia would have had to turn to pensions as well

Reply to Panich52 (Original post)

Wed Apr 8, 2015, 04:50 PM

Apr 2015

You can thank "Mayor for Life" Daley for racking up these $2 billion in pension deficits during his 20 years in office, but whoever became mayor was going to have to find some way to deal with it.

Unless, of course, you live in dreamland.

What's your suggestion?