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Friday, October 16, 2015

Illinois To Delay Pension Payments Amid Budget Woes: "For All Intents And Purposes, We Are Out Of Money Now"

By now, Illinois' budget problems are no secret.

Back in May, after the State Supreme Court struck down a pension reform bid, Moody's move to downgrade the city of Chicago thrust the state's financial woes into the national spotlight.

Since then, the situation hasn't gotten any better and despite hiring an "all star" budget guru (for $30,000 a month no less), Bruce Rauner was unable to pass a budget in a timely fashion leading directly to all types of absurdities including everything from the possibility of shortened school years to lottery winners being paid in IOUs.

Now, as Bloomberg reports, pension payments are set to be delayed. Bond payments, apparently, will still be made.



Anonymous said...

Libatards running cities in the ground and still get elected I guess when the system collapses then will the voters be outraged.

Anonymous said...

I bet I could do just as good a job for $29,500 per month!

Anonymous said...

But the good news is...welfare checks will keep on rolling in, right on time!

While you're waiting by the mailbox for that pension check you earned, remember it isn't all bad news.

You still get your 10% off senior citizens discount at the Budget Buffet!

Anonymous said...

Gee.....didn't see that coming....not at all!

Funny thing about socialism. Sooner or later you run out of other peoples money - Margaret Thatcher

Anonymous said...

Pay them in pumpkins since Illinois is the pumpkin state.

Anonymous said...

People keep voting themselves into poverty.