Sequence is Important
- Efforts by the legislature to expand casino gambling to Chicago and other locations is a secondary issue behind attempts to deal with the state’s unfunded pension liability, Gov. Pat Quinn said Tuesday.
The Democratic governor's comments drew a rebuke from state Rep. Lou Lang, D-Skokie, a major supporter of expanded gambling. Lang contended Quinn was treating the issue “as if it’s some toy we’re playing with and he’s going to withhold toys from children until they eat their vegetables.”
Quinn, speaking to reporters after appearing at an unrelated event, called gambling a “secondary issue to the most paramount issue we have to face and that’s the whole pension reform.” A day earlier, on WTTW's "Chicago Tonight," Quinn likened pension reform to some lawmakers as having “to eat our spinach and our Brussels sprouts and everything else before you can have any kind of dessert like gambling.”
Quinn, of course, is full of shit. The problem is that Quinn (and Rahm and Madigan and everyone else) want pension "reform" before the public discovers that a giant new revenue stream might alleviate (or solve) a certain problem.
A Chicago casino would draw gambling money from across the state and drag in Indiana gamblers. Quinn and Rahm want control of this money held in a very narrow set of trusted hands. They don't want the unions and pension funds that have been looted demanding repayment for the past decades worth of excesses, so they push "reform" and cuts while pleading poor, delaying the casino that they want for the money it'll bring to the connected.
A Chicago casino would draw gambling money from across the state and drag in Indiana gamblers. Quinn and Rahm want control of this money held in a very narrow set of trusted hands. They don't want the unions and pension funds that have been looted demanding repayment for the past decades worth of excesses, so they push "reform" and cuts while pleading poor, delaying the casino that they want for the money it'll bring to the connected.
Labels: money questions, pension
posted by SCC at 12:01 AM
46 Comments:
We absolutely need casino gambling in Chicago. We must also legalize and heavily tax marijuana and bordellos. The revenue is desperately needed.
How else can the City afford FIFTY-FIVE MILLION DOLLARS ($55,000,000.00) to memorialize the late beloved Grande Dame, Mrs. Richard M. Daley?
Bingo! i was thinking the same thing. years ago there was talk about a casino bailing out our city pension funds. but they don't want to save them. i believe they truly want to screw us.
Make a mini vegas with a couple hotels, restaurants, clubs and casinos. Off duties to work security. Money goes to pensions with an out of state accounting firm to watch the money. Everyone wins except existing casinos.
Good thread SCC, you're right on Target.
PotatoHead Quinn is a head case.
Lou Lang is a pile of crap mouthpiece for Rahm. He doesn't have one original thought in his head. Another jackass in Springfield.
These Illinois dems have no souls.
"Quinn likened pension reform as having 'to eat our spinach and our Brussels sprouts and everything else.'"
Squeezy The Pension Python is gonna coil around this man's neck and do the python thing.
Sooner, rather than later?
"Quinn, of course, is full of shit. The problem is that Quinn (and Rahm and Madigan and everyone else) want pension "reform" before the public discovers that a giant new revenue stream might alleviate (or solve) a certain problem."
Right on the money here, SCC!
Happy New Year!
There are no Indiana gamblers to drag in. Look at the plates on any given night in the parking lot at Horseshoe and its 90% Illinois. That along with out of towners would pay a whole lot of bills.
I have said it many times on this blog, that this is Quinns' plan.
Screw the retirees and union workers, who put their lives into this job, for this city.
Meanwhile all the obligations can finally be met with a casino plan.
Obama said that we will not be a deadbeat nation, and will eventually pay off our obligated debts to the world!
How about our state not being a deadbeat state, and paying off their negotiated obligations of debt, to the pension fund!!
These workers spent their lives working for this state, when they could have gone elsewhere, with the future promise of these pensions!!!
Quinn .....DO THE RIGHT THING!!!!!
"...If you don't eat yer meat, you can't have any pudding! How can you have any pudding if you don't eat yer meat?!", and "You! Yes! You behind the bikesheds ..." - Pink Floyd (Another Brick in the Wall)
Speaking of pension Rahm we have good news for you and we have bad news.
"
SPRINGFIELD, Ill. (AP) — Two major Illinois pension systems covering public school teachers have small holdings in firearms manufacturers.
Teachers' Retirement System spokesman Dave Urbanek (ur-BAN'-ik) said Wednesday the pension fund's $38 billion portfolio includes about $77,000 invested in three gun manufacturers: Sturm Ruger, Smith & Wesson and Olin Corp.
But those companies are among 2,500 that are part of an index fund in which TRS has invested $82 million. Urbanek points out individual companies cannot be extricated from an index fund strategy.
TRS and other pension programs nationally began reviews last month after the Connecticut school massacre.
An official says the $9.5 billion portfolio of the Chicago Teachers' Pension Fund includes $276,000 in Sturm Ruger, Smith & Wesson and Battenfeld Technologies holdings.
"
http://herald-review.com/news/state-and-regional/ill-teacher-pension-funds-invest-little-in-guns/article_a09f713a-601b-11e2-b258-0019bb2963f4.html
So now what? Maybe you knew that already tho and were just going for the P-R
The other news?
Sturm Ruger trading sym (RGR) and Smith & Wesson (SWHC) stocks both surged today immediately after Obama's speech.
Both up 5% at one point and one with three to four times the average daily trading volume.
"..♫ We don't need no ban on handguns / We don't need more gun controls / No disinvestment of our pensions / Hey RAHM LEAVE THOSE KIDS ALONE / All in all it's just another trick at city hall.
The boys in Vegas don't want Chicago gambling plain ans simple. They don't like competition. That is why there is a hold on things.
If you don't think organized crime doesn't have it's fingers in Chicago, you haven't been paying attention.
"A Chicago casino would draw gambling money from across the state and drag in Indiana gamblers"
~~~~~~~~~~~~~~~~~~~~~
Only if the location was right.
Many won't drive and park downtown. Plus I am sure that the greedy City of Shitcago will charge for parking. All those that are smokers will stay away as well.
In order for the city to make any real $$ at a casino they would have to make many concessions.
Silly little city workers! Why would the Dems give you anything? They already get all your Union dues from your your union reps to get re-elected,your in the bag!
A Chicago casino will be an epic failure. Can't smoke in the building. People will still go to Indiana. F Illinois. Chumps.
Answer your jobs in a timely fashion. And, give reports when necessary. Nothing more...nothing less.
Just end all the double and triple dipping in the pensions. Why should a politician get a check for every office he held? Make it just "one" pension only.
There is a rumor going around in the 11th Ward that a "Temporary" casino is going to be put up in the Old Michael Reese property. If that is true, or let's face it if they put it anywhere on the Southside, all it will do is re-cycle welfare money and nobody in their right mind who is not homeless or on welfare is going near the place! Also, Blago pushed all that anti-cigarette legislation, and the fact that people can smoke at the casino is one of the reason people go to Indiana.
TRS and other pension programs nationally began reviews last month after the Connecticut school massacre.
Speaking of TRS, I see that written in police facilities everywhere I go, but with particular frequency in 011.
Oh, wait, that's T/S. My mistake.
A major loophole in the pension reform. The dumb politicians forget, was when they opted u out of social security. Granted that program is f'd up to employers aren't allowed payment holidays into it. The only reason we got the pensions in the first place was so they didn't have to pay into SS. Sorry no renigging, assholes!
Hey Quinn it's not pension reform you should work on, it's spending reform.
A "certain" type of gambling was instituted years ago to alleviate reliance on property taxes to fund public schools education in Illinois and schools are still broke and property taxes for them are extremely high and rising.
Jus look at your next tax-instalment bill and see what is at the top, sucking-up the majority of the taxes. And Priority # 1 where are these bordellos located ? Inquiring minds want to know, enlighten us.
Didn't Vanecko and Daley's Son gamble with our pension money and lost?
Tuesday President Obama addressed the nation regarding the debt ceiling. He explained the debt ceiling in simple to understand terms. Basically, you must pay for the items (services) already purchased. You can’t buy items and later refuse to pay for them. That would make you a dead beat. The pension problems that plague the State of Illinois and the City of Chicago are similar to the debt ceiling in that sense. The State and the City have purchased services from public employees who have diligently rendered service and paid their share toward a healthy retirement. At the same time both the State and the City have failed to meet their fiduciary responsibilities by not paying into the funds for as many as 30 years. Now both the Governor and the Mayor are considering changes in the public pensions which are contrary to the Illinois Constitution. Mr. Governor, Mr. Mayor you cannot refuse to pay for what you have already purchased. That includes public service, even if it was purchased before you took office.
Am I missing something?
When I heard Quinn discuss gambling in Chicago, it was a 'given' according to him, that the revenue was going to the schools.
While I would only hope and pray that much of it would go to bail out their portions of our pensions, I don't put any trust into that idea.
Until I see it happen, I believe once again we're gonna get screwed.
Both the gov and lange have been contacted about using 50% of the profits to repay the looted pension systems.
Of course, neither had the time to reply to a taxpayer
The problem isn't about a casino in Chicago......the problem is which alderman is going to be lucky enough to get a cash cow in his ward.....sooner or later they're going to have to built something outside of the first ward
That would make a great article or series of commercials on t.v. explaining the plan to try and screw us out of our hard earned pensions now, so they can pass/legalize gambling later and use the profits as their personal piggy bank, rather than paying their obligations. Mike Shields /FOP get going on this.
Rahm has already stated that no casino money would go towards fixing the pension shortfalls.
Spot on with your comments. You are 100% correct, they want total control of the money, they could care less about the pensions. Think of all the "projects" they can devise to help the so called poor and underprivileged democratic voters.
Casio or not...this shit-hole city will find a way to blow all that extra revenue and it will go "unnoticed" like everything else.
Lou Lang is a champion for gambling expansion...always has been. Don't think he cares what Rahm wants. ... They both are tired of Indiana taking IL money!
SCC, that is a very wise insight.
Be Safe All.
55 mill to memorialize someone who new about all the crimes of the daley cartel.She stole great programs made by regular people for the youth of chicongo, put her name on them then ruined then within months of her take over.I could name them but some good people still work for the city who came up with them. She's gone, fugetaboutit.Quinn the revrums and all the assholes who are against casinos are just cum spots on the pants of humanity. Get rid of them ASAP!
$600 a month for a bs pension offering 50% of my salary after 20 brutal years and no medical, let me opt out now and invest my own money. Than if I run into chalkie two weeks after finally retiring I can will MY money to MY children.
#1 PRIORITY said...
We absolutely need casino gambling in Chicago. We must also legalize and heavily tax marijuana and bordellos. The revenue is desperately needed.
How else can the City afford FIFTY-FIVE MILLION DOLLARS ($55,000,000.00) to memorialize the late beloved Grande Dame, Mrs. Richard M. Daley?
1/17/2013 12:12:00 AM
Would that be the late Lard Ass Maggie Daley? She gets credit for giving our tax money away as if it were her own. But that is the Daley way, treat the city coffers as if it were the Daley Family's personal ATM. They are, after all, the only ones who can run Chicago correctly and were born into great privilege by virtue of their Bridgeport heritage and severe in breeding.
the city and the state cries broke so the federal government picks up the tab. now rham want the fed to take over the city he is a true socialist.
Remember that through all the years that the politicians have been not putting the required amount of money into all the pension funds they have been using the monies to agrandise themselves to the voting public. Such as new highways, government buildings, etc. etc. So the real recipients have been the taxpayers of the city of Chicago and the State of ILL. These are things that they should not have gotten if not for politicians who found a way around the constitutional clause that kept them at bay from the numerous pension assets. They appointed their own people to oversee the funds like the fox guarding the hen house. The people of Illinois received benefits they should not have recieved and now they should have to pay for them. I am a taxpayer and a pension recipient. I benefitted by these corrupt politicians and am willing to pay my fair share as long as every other person in Illinois pays exactly the same. Why should the government employee bear the entire brunt of this debacle.
Then gambling expansion and the casino will never become a reality. These politicians are not going to screw us under the guise of "reform" only to later pass a gambling expansion bill that will reap millions for their personal use. Do these elected officials really think that we will roll over and take this ?
Alderman and County Commisioners are part time. why do they get medical and pension?
Hmmmmm...
Speaking of other people's money an' shit... >Snicker!<
What do we spy with our roving eye?
Wilkommen und Achtung!
Bundesbank is moving 300 TONS of gold from the Federal reserve in New York to be "repatriated" back to Germany.
Hmmmm...
Sparkle-Farts signs off on an executive order for life time Secret Service protection for himself?
Sparkle-Farts making good on his gun-grabbing agenda?
Germany jams the U.S. deep in a corner like a hoe after a hard eye-slap and shakes loose 300 TONS OF GOLD?
*Lyin' bitch! Gimme my money!*
>WHAP!<
*AIIEEEE! MY EYE!*
Hats off to the Germans... They don't fuck around when it comes to business and money...
Looks like they not only got a heads up...
Preparatory Command: Cross Bow Rescue.
Command of Execution: Move Like A Muthafuckah!
No No! Don't look over here! Look over by there!
Anonymous said...
Both the gov and lange have been contacted about using 50% of the profits to repay the looted pension systems.
Of course, neither had the time to reply to a taxpayer
1/17/2013 11:04:00 AM
Lang is a peon from Skokie. I sent him a note when he was pushing for some gun bullshit and he never had the stones to reply. He is a small time bum put there by Cal Sutker. He probably has an interest in some shadow company that will profit him personally from another casino controlled by Rahm. They will never use that money to replace what they stole. Remember the State lottery was going to go to schools.
Oh yeah Lang is on the up and up...riiiight
http://en.wikipedia.org/wiki/Lou_Lang
Do these elected officials really think that we will roll over and take this ?
1/17/2013 07:41:00 PM
yes.
Keep an eye on the Congress Hotel. There's a reason that strike has been ongoing for forty years.
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