Pension Meltdown
Emmanuel Stabbing In The Dark for Pension Fix
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  • Pete

    Rahm Emmanuel deserves only blame for the pension crisis.

    Why? Because his whole life has been devoted to big government and showering those in it with over compensation.

  • Fat_Man

    My daughter and son-in-law live in Chicago. They will be moving to Nashville in June. I am happy about it.

    • Anthony

      A number of Chicagoans have relocated to Nashville Tenn.

  • Andrew Allison

    Isn’t there something slighty discordant between “Mayor Emmanuel deserves credit for taking seriously the egregious fiscal situation he inherited.” and “But it’s not even clear that hundreds of millions of dollars in property
    taxes (which, in apartment and office buildings, will likely be passed
    on to tenants) and further increases in employee contributions can fix
    this pension mess”? Not to mention that Emmanuel’s proposals are just that, and the chances of them being implemented approximate that of a snowflake in hell.

  • Ed Maryellen Kmiec

    It would not surprise me if Emmanuel and the City of Chicago sent out retroactive tax bills to everyone who has ever lived or worked in the city as a means to generate revenue, under the notion of “you lived/worked here so you have to pay for it”.

    If they do, the first bill should go to Barack Obama.

    • Andrew Allison

      Better idea: retroactive pension cuts to any public employee who ever worked for the city, under the notion that “you didn’t earn it”.

  • Ghosts of Benghazi

    Cannot keep the promise to pension holders, plain and simple. Raising taxes on productive citizens to fully fund a fantasy plan for retired citizens is pure insanity

  • Jim__L

    This is what the Federal Government has in its future.

    Personally, I think that it’s a disgrace that the debt ceiling is ever increased. Demanding a “clean” bill for dirty tricks on America’s future generations is nothing short of Orwellian.

  • Anthony

    By discounting pension liabilities at high interests rates under government accounting standards, many state and local governments (we can add U.S. too) understate their pension liabilities and the costs of providing pensions. Rahm Emanuel and blue model governance are not outliers here; chickens have come home to roost given two decade plus of malfeasance and electorate that subtly supports it (“as is often the case in politics, the potential for malfeasance arises anytime someone is allowed to avoid responsibility tomorrow for promises made today.”).

  • rheddles

    I’d give emmanuel credit if he proposed the end of the defined benefit plan and implemented a defined contribution plan. Anything less is rearranging the deck chairs on the Titanic.

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