Run by liberals

[Big Money]

The ongoing public pension crisis that has hit the credit ratings of Illinois and Chicago took its toll on Cook County government Friday.

Moody’s Investors Service downgraded the county’s general obligation debt one level, to A1 from Aa3.

The bond-rating firm cited an unfunded liability in the county’s pension plan as the principal reason for the cut. It had a reported unfunded liability of $5.6 billion as of the end last year, Moody’s said. But Moody’s said that when more conservative assumptions are applied concerning the fund’s investment performance, the liability grows to $12.7 billion.

Improving the situation requires help from the state Legislature because the county contributes the statutory maximum toward its pension plan. Yet the Legislature is where Moody’s said the “political paralysis” lies.

In July, Moody’s hit Chicago with a rare triple-notch downgrade in its rating, bringing it to A3.

Fitch Ratings last month affirmed an AA- rating for the county.




http://www.suntimes.com/news/21977819-761/moodys-credit-downgrade-hits-cook-county.html

 

[NOVA]

If there is one thing the liberals have learned and learned well is, THEY can tax THEMSELVES into prosperity....and fuck the rest of the people.....
They will get theirs no matter what it does to the country, the state, or the city they are demanding money from.....
and why not, its certainly been working well for them in the past.

 

[Big Money]

If there is one thing the liberals have learned and learned well is, THEY can tax THEMSELVES into prosperity....and fuck the rest of the people.....They will get theirs no matter what it does to the country, the state, or the city they are demanding money from.....and why not, its certainly been working well for them in the past.

Not working too well in Dem-dominated Detroit or Chicago, is it?

Public union pension funding.

 

[poet]

Peeps like you may not see the White House, again, in your lifetime.