A Billion Here, A Billion There
Remember a few years back, the $1.5 billion dollar bond issue the City Council passed to improve the bottom line of connected construct.... oops, we mean improve O'Hare Airport?
And just a few months ago, the mayor promising about $500 million to the Olympics in order to guarantee certain construction comp.... oops, we mean certain capital improvements and venues could be built on time?
Now, the mayor is asking for another $1 billion bond issue for O'Hare, financed partly by a $4.50 ticket surcharge. Unsaid is that if air travelers don't flock to O'Hare (and they've been avoiding O'Hare more and more), then the local tax levies will guarantee the bonds.
Anyone else wondering why the mayor and his lackeys can't float a billion dollar or two bond issue to maybe bring our woefully underfunded pensions up to something over 48% or whatever insanely low number it's at lately?
We're just saying....
And just a few months ago, the mayor promising about $500 million to the Olympics in order to guarantee certain construction comp.... oops, we mean certain capital improvements and venues could be built on time?
Now, the mayor is asking for another $1 billion bond issue for O'Hare, financed partly by a $4.50 ticket surcharge. Unsaid is that if air travelers don't flock to O'Hare (and they've been avoiding O'Hare more and more), then the local tax levies will guarantee the bonds.
Anyone else wondering why the mayor and his lackeys can't float a billion dollar or two bond issue to maybe bring our woefully underfunded pensions up to something over 48% or whatever insanely low number it's at lately?
We're just saying....
Labels: city politics
posted by SCC at 12:04 AM
8 Comments:
SCC: golly, holy moly,,,,,didn't da mayor tell you? the City is gonna make a little loan from your pension funds, not just the cops, all city employees,you guys should be proud to lend YOUR future to make the city an international dumping ground and loser. tsk! tsk! SCC
I thought you were in the loop on these things.
Based upon the lack of funding that the City of Chicago has not done;ie:Mayor Daley.The Chicago Police Pension Fund will be insolvent in 8-9 years.Basically,the Mayor is pulling the same shit that Conrad Black and Robert Maxwell pulled.
This guy is running a dynasty gets whatever he wants! He gave victor reyes old gofer the big job in charge of the expansion at that airport and ole" ROSIE has no clue what to do! DON'T WORRY BABY DEGNAN AND THE SLAVEMASTER CREW WILL TELL YOU AFTER THEY STEAL WAHTEVER THEY WANT AND YOU WILL BE LEFT HOLDING THE BALL WHEN PATRICK FITZGERALD COMES CALLING!!
The developers and construction magnates are the new politicians. What they want they get at the price they want. The elected pols kowtow to them for the kickbacks- oops campaign contributions.
Do we need to expand Ohare? Who knows and who cares. Do we need to go into debt to do it- that is the question. I could care less if we get the Olympics and I really could care less if air traffic shifts to another city due to Ohare being too busy. I do care about the potential for my taxes to rise when these boondoggles eventually fail and we get stuck with the bill.
I can't give you a new contract CPD, I have to give billions of more dollars to my friends at Walsh Construction!
Watch out for Blago/Toddler/Daley to start taxing our pensions, and everything else they can.
Are those Muni bonds or Junk bonds?
Ahhh.....who cares. This city generates plenty of revenue to pay them off, just none from me come June 30th. When my contract runs out, so does my pen.
To 5/15/2007 09:56:00A.M.
To answer your question, yes we do need to expand O'Hare. The runway layout is outmoded and inefficient, and it is a gigantic bottleneck on the whole air traffic control system. Midway, which the city spent a billion dollars to expand and modernize will reach capacity by 2015. Even an expanded O'Hare will be at capacity by 2025, which will necisitate the construction of the third airport at Peotone. Wether you like Daley or not, or want the olympics and I don't, O'Hare is a tremendous job magnet. It is one of the major economic engines of this region. Jobs mean taxpayers and increased tax revenue, so yes it is necessary to expand O'Hare and build Peotone both. It is too bad that the fix will be in, and the connected will profit big time. Hope this answers your question.
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