by meep
Chicago is deep in debt.
As the Little Red Hen might ask: Who Will Help Chicago Get Out Of That Hole?
I am not going to make the mistake of Meredith Whitney — Chicago, for now, has cash flow, which to politicians means it’s not bankrupt!
Anybody who looks at Truth...
by meep
Let’s see the latest news about Chicago pensions:
Yvette Shields of Bond Buyer: Investment losses sting Chicago pensions, 2022 balance sheet
Investment losses last year eroded funding ratio gains achieved a year earlier by Chicago’s pension system, casting a shadow over a healthy pickup of taxes on the city’s audited financial...
by meep
In which I discuss some of the fiscal plans for Chicago of the new mayor Brandon Johnson and some of his political friends… and the constraints they will labor under: a population that has already shrunk and a significant revenue target that has already threatened to up stakes and move out of Illinois entirely.
by meep
You knew this one was coming. We all knew this one was coming.
Let me sample from a recent interview with Lori Lightfoot in the NY Times
Q: Let’s talk about the city’s financial situation. You’re facing a near-billion-dollar budget gap. That would be hard to address during an affluent...
by meep
This is a combination & edit of two older posts, both from May 2015: Illinois Pensions: How Did We Get Here? The 1970 Constitution and Illinois Pensions: How Did We Get Here? Development of Unfunded Liability, as well as updating a few graphs to the most recent data...
by meep
California bumped Illinois from first spot, but Illinois has a lot of issues, and, unlike California, we’ve not heard about a single proposed budget cut yet.
Oh, and they’ve been issuing bonds with some of the highest yields in the muni market because of course they are.
So let’s hit the...
by meep
I started this post early this morning. That’ll teach me to take several hours to write stuff [and do my job, take care of my kids, and celebrate my birthday]. The older stuff is still relevant…. just not as an eye-grabber as the following story:
McConnell says he favors allowing...
by meep
Illinois asks for a huge chunk of change to pay for their underfunded pensions.
I object to that.
by meep
[Just to clarify: the proposal is to put a bunch of plans in two piles. I just didn’t want to change the blog post title.]
The governor of Illinois has released a report:
Report to Governor JB Pritzker
Illinois Pension Consolidation Feasibility Task Force
October 10, 2019
Executive Summary
Of the financial challenges facing the...
by meep
I’ve not been blogging about Chicago/Illinois pensions much this summer… mainly because I’ve been very busy and been having pain issues. (I’m trying a new treatment next Thursday…here’s hoping it works!)
But it seems like a good time to do a summer wrap-up over what’s been going on. Especially since...
meepbobeep
Additional: As an Amazon Associate I earn from qualifying purchases. If I remember to link them.