There's No Money! ::bullshit::
This comment appeared earlier today:
- "...it's State Law, backed by the Illinois Constitution..."
How does this argument hold up when there simply is no more money left in the coffers? Conjure it up out of thin air?
Better wake up...
Chicago is a $7.3 BILLION dollar entity. It jumps to 8.9 billion when grant funds are included from various sources. Illinois is a $70+ billion boondoggle when everything is figured in.
The trouble isn't that there isn't any money - there is plenty of money. The trouble is that no one is spending it responsibly. We've outlined it here plenty of times and sometimes a reporter strays off the reservation and actually points out some fiscal malfeasance, but that's rare.
The trouble isn't that there isn't any money - there is plenty of money. The trouble is that no one is spending it responsibly. We've outlined it here plenty of times and sometimes a reporter strays off the reservation and actually points out some fiscal malfeasance, but that's rare.
- construction hasn't slowed and Rahm is proposing more - why is that?
- we explained the crooked contracts where taxpayers are getting fleeced to the tune of tens of millions a year, hundreds of millions over the years by paying someone an extra 10-to-30% just because they are approved minority vendors;
- ridiculous taxes that drive shoppers away from Chicago - water tax, soda tax. etc;
- more taxes, not to mention the labor, that cost Chicago millions in convention business;
- golden pensions that people got solely by birthright, fortuitous marriage, payoffs or as hush-money;
- payouts to middle men for losing pension money
Need we go on? We still haven't seen an enterprising reporter or an enterprising FOP member with a lot of time on their hands dissect the city budget. We've seen isolated sections of the budget at various times - do you know how many people in there are listed as "assistants" or "deputy director" or "assistant to an assistant"? We've seen dozens in all sorts of departments. That screams "padded payroll" to us and many others. Where are the efficiency experts taking apart those budgets?
Then let's get into the fraud aspect. Whoa Nelly.
Then let's hit the "assistance" sections of the budget:
Then let's get into the fraud aspect. Whoa Nelly.
Then let's hit the "assistance" sections of the budget:
- housing assitance
- gas/electric/water/sewer/phone bill assistance
- job training
- back-to-school expenditures - without any sort of means testing
There's always plenty of money for that for some reason. It's high time government was forced to re-prioritize its spending habits.
Labels: money questions
posted by SCC at 12:31 AM
90 Comments:
"Then let's hit the "assistance" sections of the budget:
•housing assitance
•gas/electric/water/sewer/phone bill assistance
•job training
•back-to-school expenditures - without any sort of means testing
There's always plenty of money for that for some reason."
They are required by law. Laws passed by your benevolent and generous with taxpayers money legislature. Are the pensions required by law, or just some contracts and an outdated piece of paper.
There is lots of money for Bread and Circuses for the mobs. Just try to take it away from THEM? Take away their Bread and Circuses, and you will see what real riots look like, up close and personal.
Unfunded pensions?
Get in line. You will be waiting in line behind the bondholders. They get first crack at any money left.
If you or your friends do business with the city or state? Cash up front might be a good policy. And since you cannot do that, don't do any business you cannot afford to be stiffed for. Twenty, sixty or even ninety cents on the dollar, eighteen months later doesn't do your cash flow any good.
Our incompetent conniving crooked politicians cannot stay in power if they are not passing out bloated unneeded contracts to connected vendors who then "donate" a portion of that contract back to the politicians as campaign contributions. If these same thieving politicians don't hand out free benefits to the poor they won't get those votes at the poll on Election Day. We taxpayers get nothing but bigger tax bills and spit on by our arrogant clueless leaders. This has been going on for years. Problem is there are less and less taxpayers around to pay the bills.
Here is MY question.....
So it's a legislative fact that our pension is guaranteed, as everyone agrees. Well, except the politicians who want to play games with it.
The politicians want to change it, right?
Well residency is a legislative fact also, but funny how all of the politicians insist "residency is a law, we can't do anything about it!"
Funny how they only consider laws hard-and-fast when it suits them. And by the way..........
LIFT RESIDENCY!!!
Sure SCC - cut the waste. I agree with you 100% BUT, all this money keeps everyone in line.
If we cut the "extra money" to the contractors, they would start to support someone else for Mayor and Aldermen.
If we cut welfare and all the free "gimmes", we would have another Baltimore.
It's just the average taxpayer and worker who have to carry everyone else. You and me.
Last election, where was everyone who wanted reform? They were still voting Democrat, or not even going out to vote.
Everyone bought off on "Rahm is the lesser of two evils"...."Oh don't vote for Garcia, he doesn't have much of a plan".
Well, was IS the Plan? Continue fleecing everyone and keep the status quo.
ALL of you voted for it, either by voting for Rahm or by not even showing up.
So no more whining.
There's no money!,, for you.
That's what the title should have been.
I recall back around 1993-94 when CPD was told that there wasn't any extra money for a contract raise. The CPD hired their own auditors and scrutinized the city budget. They found A MILLION DOLLARS that wasn't declared by the city. So they got their raise fair and square.
What's the old saying: My accountant can beat up your accountant !
Maggie Daley park was already a park for the love of God. Just rename! 50 plus million in tax payer money. DePaul which is a private school gets a 100 million new stadium with tax payer money.
The liberal scum media won't touch these scandals.
FBI where are you?
God love you and yours, SCC. Just flyin in with a random thought.
Life is hard.
Work is harder.
Murder is the hardest thing of all. Don't do it.
...unless you be hardheaded and don't even remember.
YOU, you m__f__er, "runnin over the yards now!" are why we have police.
Texas this, Texas that, s__t. Yo bikers go bad ev'y thirty yearn or so.
South side/west side/party buses that rough every night here.
pop pop pop &c.
Stay safe, all.
Rahm doesn't want to talk about there being sufficient money he only wants to talk about the pension "reform" that HE'S wanted and demanded since day 1.
Rahm wants us to chip in, aka give back, so as not to "unfairly burden " the taxpayers.
Well if the taxpayers are being "unfairly burdened" it's due to lying, thieving politicians like Rahm it's not due to us and our modest pensions.
We need a forensic audit of the city including Rahm's slush fund the TIF's. Dean are you paying attention and listening? Or are you too busy snuggling up with Rahm?
Illinois, Cook Co., and Chicago are all democratic political entities. They exist off of high taxes, kickbacks, political graft and corruption. This is not new. It has been that way going back to the days of Pres. Andy Jackson. As long as there is a democrat party it will never change. Don't like it, than don't live in a city or state controlled by the democrat party.
Should make any responsible person think. It seems like our City is ruled with an iron fist, but now he is doing it quietly and out of the media. I'm sure 4 years from now Rahm will retire and Willie will be elected to save us..
We are all screwed..
Cmon Rahm, do the right thing and redirect some funding to the pensions before the Feds do it for you..
Transparency my ass
The CPS budget has $135 million for transportation cost. In today's again of multi car families and rapid transit, bussing should be used for the severely disabled only. What ever happened to the " I walked 3 miles through snow with plastic bags on my feet" to go to school.
Couldn't agree more!
Look, I don't like you police' and I am doing a bang up job making sure the public hates you greedy pension soaking fucks as well. I will not pay for your pensions, and the public will not either. You are lucky you have a job so just listen to your ward boss and shut the hell up. Signed Rham P.S. you are not supposed to retire on a pension for 10 or 20 years, you are supposed to retire and die.
The only pension reform Rahm wants is where he pays nothing so he has more money for the children.
I think it was the pipe fitters union or maybe the plumbers that had all those ads supporting Rham. Let them work with him first on reforming their pensions.
Rahm has plenty of money---for his voters.
Rham, I guess the op-ed pieces in support of the pro - pension theft statues from Mayer Brown LLP that your water carriers over at the suntimes and tribune published has failed miserably. BTW, when will the racist and elitist editorial boards at these rag newspapers allow equal comment for elderly city/state pensioners on how the pension theft statutes impact their lives ?
PLEASE HIT THE MONEY BOX !! Again I submitted slips only to have them denied. Under this new time due policy with furlough extension being included it is becoming impossible to take any time at the being or end of a period, not to mention 15% barely allows any of the coppers with time on the job to take off. If taking time off is not an option then we should all send them a message that we want to be paid for every minute of comp time, no longer are we gonna bank hours that you are gonna deny anyways. PLEASE HIT THE MONEY BOX. Even if this only moves the needle in a small direction, maybe they will understand we value our time that we earned.
Very well thought out Scc "The Spirits of the air" are working overtime! Don't forget years ago we had no cable television, no cell phones, have you looked at taxes paid on that? I challenge you to completely read that bill! What about safe passage? Paying so called parents to stand on corners while they also received link card and extra government assistance? Obama phone? Government produces nothing but we taxpayers pay for this? How much was stolen again from our pension funds? We know they allowed over 60 million to go to Daleys kid and vaneko dv urban venture real estate scam all money lost! Who at the pension board allowed this felonious theft? No federal investigation?
Ed Burke sent out expensive full color flyers during rahms election stating he knew how bad city finances were and that rahms was the candidate to turn it around! Ok you're a successful lawyer financial chairman, how long did this money situation exist? You just allowed well over 5 million dollars to be given out to thugs who accused a tenacious copper John Burge of not proven no evidence of torturous behavior, no credible witnesses how did that work? More egregious when the trained city council members stood up faced the thugs and applauded as you gave away my and others money! By the way got recent property tax assessment it went up fund the pension game over!
FOP has been bought out by the city. Come on now. Isn't it obvious. City jobs for friends and family of FOP officers. Captains pay and paid business lunches, expenses for FOP officers. Don't shake the tree and you will keep your perks. Merit promotions to the incompetent and gold braid pensions held out as a carrot. Just don't shake the tree or you can lose your cushy spot. It works like that at every level of city jobs. Streets and sanitation. Fire department, etc. Aldermen same thing. Corruption doesn't begin to discribe it. Legalized thievery is more like it.
it's simple...spend spend spend then declare bankruptcy.
My favorite is Burial Assistance. This is so the poor folks won't have to worry about granny getting a decent sendoff and a nice grave. Of course they can always just leave her in the morgue for a year or so til some charity picks up the tab.
SCC:
Last week the BGA did a story on all the scamming the retired exempt ranks are involved in:
"No Retirement Parting – Chicago Cops Draw Pensions, Return To Payroll"
http://www.bettergov.org/no_retirement_parting_%e2%80%93_chicago_cops_draw_pensions_return_to_payroll/
Guess its time for cuts across the boards. Cut the aldermen and their over-sized staffs down to 20 or 25. Perhaps its time to look at many of the city service depts. too. How many political streets and San hacks do we really need?
No Money??? The Welfare gets given out very month and the LINK Cards are filled up!!!
All reason for term limits!!!!!!!
"There's always plenty of money for that for some reason. It's high time government was forced to re-prioritize its spending habits."
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Perfect explanation!
Several economists from U of C etc., related on an NPR radio show recently that no bankruptcy judge would grant Chicago bankruptcy because the city has a very good revenue stream where Detroit did not. Also, the city should have been raising property taxes a little at a time over the years so the impact would not have been that great on homeowners. Compared to the suburbs, Chicago's property taxes are low, so there is room for some property tax increases. They also talked about the corruption tax, bad spending by dirty politicians that cost taxpayers millions.
Scc you are being to hard most people can't budget their own households.
Many members who voted for RAHM thought he was a financial genius with his degree in dancing.
The city has so many assets it could sell its laughable.
for example:
Closed old 12 district (and parking lot
Closed Old 10 district and parking lot
Under used play lots
The land under block 37
The shit load of closed schools.
School buildings on Pershing and western (about 6 blocks worth!)
But it is easier to just raise taxes and hoard all these goodies.
So when all the experts chime in and bankruptcy remember assets must be sold first!
I know people think bike lanes are free and museums in ghetto parks will save the city.
Lets not forget the Ridiculous Gasoline and Tobacco Tax.
Remember the first Contract for body removals 900 big ones.
Emily Beazley passed away last night. She was Bravery,Grace and Dignity. My prayers to her family.
Why did They Waste 600 Million on Soldier Field? The owners of the United Center paid Daley off,Competition from a larger indoor Stadium would of cost them Millions.
FACING $1 BILLION DEFICIT, ARIZONA SHARPLY LIMITS WELFARE
BY RYAN VAN VELZER
ASSOCIATED PRESS
AP Photo
AP Photo/Ross D. Franklin
BUY AP PHOTO REPRINTS
RELATED INTERACTIVE
STATE-BY-STATE LOOK AT PUBLIC ASSISTANCE
LATEST NEWS
FACING $1 BILLION DEFICIT, ARIZONA SHARPLY LIMITS WELFARE
MISSOURI LAWMAKERS OVERRIDE VETO TO ENACT WELFARE LIMITS
PHOENIX (AP) -- Facing a $1 billion budget deficit, Arizona's Republican-led Legislature has reduced the lifetime limit for welfare recipients to the shortest window in the nation.
http://hosted.ap.org/dynamic/stories/U/US_WELFARE_CUTS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2015-05-18-20-11-03
And don't forget the "good ole boys" who get to skirt the Ethics rules by collecting a pension AND earning a city paycheck. There's plenty of pension money right there that could go back in the till. Same Shitcago, different day.
I'd love to see a report on the medical cost to the city on the gangsta shootings. Over the weekend 49 shot (2 dead) so 47 wounded. I read somewhere the average cost is $200,000 @ incident when you factor in paramedics, emergency room, hospital stay, drugs and therapy. I'm not confident that number is correct but if yes, than this weekend cost the city $9,400,000. Let's see some media coverage of this. A not insignificant number borne by the taxpayers but kept hidden.
Broke on purpose
Do you really think that they are concerned over some 70 something white guy living in Florida? How naive. All about staying in power ( votes) and giving the handouts to those that help them stay in power.
SCC:
Last week the BGA did a story on all the scamming the retired exempt ranks are involved in:
"No Retirement Parting – Chicago Cops Draw Pensions, Return To Payroll"
http://www.bettergov.org/no_retirement_parting_%e2%80%93_chicago_cops_draw_pensions_return_to_payroll/
Yeah, we covered that last week when it came out.
Don't look at the city budget.
Look at the city's spending.
FOIA the Finance Department for spending records.
We've been saying this over and over again- just play it on auto-repeat...."They have money for parks, bike lanes, community projects, contracts for friends of the connected, and all kinds of other bs, but they don't have any money when it comes to paying the bills". Why? Because paying the bills does not help them win elections ergo, they and their friends do not get rich off of the deaf, dumb, and blind taxpayers.
I've have been praying and meditating on this and saw the outcome. We will get what is due to us. God is great!
$$$$ for cease fire groups , gang members paid to do exactly what , get the vote out
brand new schools . for illegals
new pensionable rank of deputy chief to do duty of a district commander , paying police officers to do secretarial work . a civilian would receive 1/4 less$
look at all the double pensions , city workers receive a city pension 80% + pension from their trade + 3% compounded cola , we get 1 1/2 % at age 60 . money is there , Chuy would have found it the day after he was elected with a forensic audit .
All those years when aldercreatures and governors and the like thought to themselves "hmmmm, $12,000,000 deposited to pension accounts or $12,000,000 to buy stuff for people who'll vote for ME if I buy them stuff" have left a lot of dollars that should have gone to pensions being spent on buildings, parks, trains, computers, and the like.
But the Constitutional guarantee behind those already-earned pensions give ya'all first dibs on those assets, I would think.
So, the first year in which the accounts cannot pay out enough to fulfill all due pension obligations, start thinking in terms of reducing that yearly obligation shortfall into a judgment, and start sheriff's sales on city buildings.
What with your Constitutional guarantee, I think you've got a decent shot at it.
The city may be a multibillion dollar entity, but they're on the hook for $60 billion in pensions, healthcare and other bills.
If I were CPD, I'd start sinking all my free cash into an IRA because honestly, despite being contractually obligated that you're due a pension, I'd start planning under the assumption that the state and city will fuck you over and you'll get a fraction of it. And if you're wrong and that your pension is somehow all 100% funded? You'll have that much more money to spend. A bigger boat, a summer house in some low-tax state that respects you.
And honestly - the city needs at 10% reduction in headcount across all city departments.
First off, why isn't anyone (cough--Daley) in Federal Prison?
There's no way that what 'King' Richie did -- as in: not paying one red cent into pensions -- isn't criminal. Annnnnd Tiny Dancer's pulled the same shit that 'his mentor' did. Rahm hasn't paid a penny into the pension fund either, not even made an effort.
What these two, Shortshanks & Flaming Tutu, pulled off is not that much different from what the City Officials in Bell, California did -- who are now all in Federal Prison. While 'our' crooks didn't line their own pockets with outrageous salary's and perks like in Bell, they all Misappropriated Taxpayers Finds.
You could bet the rent that if Chicago was a private corporation Fedzilla would have had both of these mutts indicted and in prison years ago for what's been pulled with the 'corporations', aka: city's, finances.
Too bad we now live in country with a Third World judicial system. Taxpayers in Botswana would have a better chance of getting justice.
Chicago and Illinois love to stand on principles like "We're anti gun." When Rahm said that all financials that the city controlled would not support any firearms industry, even though the firearms industry was one of the only profitable ones at the time, it shows how stupid they are. They have no problem, however, paying of a Daley relative that lost millions of pension dollars on bad investments.
Go figure. This is who you voted for.
I saw an economist interviewed on the news. He said the state of Illionois brings in 720 billion in tax revenue in a year. He said to solve the pension problem you would need to use half of one percent of that. He said there is plenty of money but it is mismanaged by choice. By the way, Rahm has 3.5 billion and growing in TIF funds. Chicago also has the money. Both just don't WANT to pay.
Anonymous Anonymous said...
The CPS budget has $135 million for transportation cost. In today's again of multi car families and rapid transit, bussing should be used for the severely disabled only. What ever happened to the " I walked 3 miles through snow with plastic bags on my feet" to go to school.
5/19/2015 05:44:00 AM
Citywide we have public schools, cut the budget no school busses except for handicapped, no free Cta you go to school in your neighborhood would save billions and foster civic pride in neighborhoods winning situation! Hello alderman Cardenas another way to save money fund the police pension, not tax suburban residents "curious George?"
It has been my experience that most minority contractors are scam artists who pretend to be involved in various construction projects while fronting for a conventional general contractor's company that performs most of the actual work. The contracts are padded to pay the bogus minority contractors. It is like an episode of "The Sopranos."
"How does this argument hold up when there simply is no more money left in the coffers? Conjure it up out of thin air?"
Duh, dudes, this is ultimate excuse to "raise taxes"....Constitution requires it, trumps everything even reducing what's left of the working class to poverty level.
Nothing can "trump" raising taxes for something that is constitutionally required....The Bill of Rights is the only part of the Constitution that can be ignored when inconvenient for the social fascist state
And on top of all this pension talk, don't forget the noises coming out of Springfield about taxing pension income. That sure will help keep retirees here in the state....
Anonymous Anonymous said...
FACING $1 BILLION DEFICIT, ARIZONA SHARPLY LIMITS WELFARE
BY RYAN VAN VELZER
ASSOCIATED PRESS
AP Photo
AP Photo/Ross D. Franklin
BUY AP PHOTO REPRINTS
RELATED INTERACTIVE
STATE-BY-STATE LOOK AT PUBLIC ASSISTANCE
LATEST NEWS
FACING $1 BILLION DEFICIT, ARIZONA SHARPLY LIMITS WELFARE
MISSOURI LAWMAKERS OVERRIDE VETO TO ENACT WELFARE LIMITS
PHOENIX (AP) -- Facing a $1 billion budget deficit, Arizona's Republican-led Legislature has reduced the lifetime limit for welfare recipients to the shortest window in the nation.
http://hosted.ap.org/dynamic/stories/U/US_WELFARE_CUTS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2015-05-18-20-11-03
5/19/2015 08:56:00 AM
Wondering how many more will be coming here? We give more taxpayer funded free stuff here than anywhere else! Can't won't fund pensions but let's being more non-producers here!
http://www.pionline.com/article/20150518/PRINT/305189986/illinois-chicago-run-out-of-options
A bit off topic but according to this article, people on the second tier pension with a cap would be against constitutional law?
This is sick and crooked part of the whole pension theft. The city has the money. They just chose to spend it on every other thing that helped them get elected. When we took this job the city made us all sign papers(a contract)agreeing for "X" amount of $$$ to be taken out of every pay check and in return we would get "X" % upon retirement. We had no say where the money went. It's simple and should have worked just fine but in typical Chicago scumbag politician fashion they cheated. We should not budge an inch and the court agrees. Political mismanagement(shaddyness) was the cause. PERIOD! Someone needs to investigate all the BS big $$$ projects the city has spent $$$ on over the last 30 years and then ask hard questions. Ask how Daley's several pensions are? He's the main cause of this.
ramie , license or enforce city code , 100's of unlicensed food vendors in the little village neighborhood , paying to city license fee , no state or federal income tax .
anyone think those poor illegals are paying a street tax to operate ? it is Chicago
Remember those protesters that burnt down Ferguson? Those wonderful folks that shouted Hands UP! Don't Shoot!; as they threw rocks and bottles at the police?
Turns out the ring leaders were getting paid, about $5 grand a month. $5K to turn out the mob, loot the stores, break windows and burn it all down. Five Grand to get the kids to throw rocks at cops, beat on whitey, and trash their city.
And now someone is stiffing them for their final checks. They ain't happy.
http://www.weaselzippers.us/223908-ferguson-protesters-protest-not-getting-their-checks-for-protesting-from-their-organizers-list-of-payouts-to-protesters/
The Washington Times even picked up the story about the paid "protest leaders."
http://www.washingtontimes.com/news/2015/may/19/hired-black-lives-matter-protesters-start-cutthech/#.VVtZRvR0aVY.twitter
This is what you will be up against when they decide the Chicago PD was racist and now has to pay. The pros will move in and stir things up while their buddies in the "Professional Journalists" repeat their stories verbatim about the racist and brutal police. They did it in Ferguson. They did it in NYC. They did it in Baltimore. They keep trying in Oakland CA, but all they can do their in "Protest the Injustice in other cities!" so far.
Go to Twitter #cutthecheck
Hit the money box because when you retire and you think the city is gonna pay you your 2080 hours years pay you have on the books you are a fool. Always take the money. Find your fucking Roth IRA
Bandidos vs. Cossacks
Stay out of Texas. This will go on for years and affects affulent areas.
At least our violence is on the West and South side.
A misleading trend among politicians is to state the amount of pension payments in decades. I guess it gives more shock value in hopes of making tax paying citizens prepare to be taxed to death.
I would be interested in the ACTUAL amount of payments made yearly to retirees.
If I too project my regular monthly debt into a 30 year time frame, I'm sure it would be a super scary number also.
We are fucked. The writing is on the wall. The politicians are already showing their cards. They do not intend to honor their pension obligations. Then the media is carrying the water for them by writing all sorts of scary headlines. Look, at this point I would be happy if we still got half of what we were promised.
Anonymous Anonymous said...
Here is MY question.....
So it's a legislative fact that our pension is guaranteed, as everyone agrees. Well, except the politicians who want to play games with it.
The politicians want to change it, right?
Well residency is a legislative fact also, but funny how all of the politicians insist "residency is a law, we can't do anything about it!"
Funny how they only consider laws hard-and-fast when it suits them. And by the way..........
LIFT RESIDENCY!!!
5/19/2015 02:14:00 AM
Even though I agree with the spirit of your comment, the reality is this- the leaders in charge play by a different set of rules. When the letter of the law applies to us lowly serfs we have to obey the law or else. When the letter of the law applies to them, they ignore it, change it, or best of all- they just "interpret it differently". Wake up sunshine.
when I'm short, we have a garage sale.
sell:
real estate, art, books, naming rights, reduce wards to 25, stop aldermen office and employee subsidies,
stop pensions for elected politicians, for starters..
Hmmmm. No pension for me, no work for you.
A few contracts ago, a couple of enterprising detectives with accounting degrees sat down and figured out that officers were being short-changed on back pay. City Hall said 'OOOPPPS' and new checks were issued. Verify everything the city tells you.
The Democrats cash cow ranch is in perpetual construction. The "Shovel Ready" stuff.
Results from all the infrastructure projects, past and present, have had absolutely no returns for the General Fund.
Stuff like Ohare Modernization, Deep Tunnel, Re-Repaving, CTA (Rahm just has to build that Piss-Bum CTA Express) and the CPS. No progress here, just political contributors lining their pockets.
If you voted for Rahm's & his Closed Book Policy, you deserve what you'll get...huge tax bill.
5/19/2015 11:12:00 AM
Why? Because every asshole that got something from him now steps up to cover because that something also carries over to their fucking kids.
Look at all the friggin exempts that are double or triple dipped in the CPD or the CFD or that went from CPD to OEMC to CPS and then County.
Why?
Because no one here that whines and bitches and moans has the Balls to step up and go "I heard Daley Order THIS!"
STFU or file charges.
Anonymous Anonymous said...
Don't look at the city budget.
Look at the city's spending.
FOIA the Finance Department for spending records.
5/19/2015 09:31:00 AM
FOIA is only free for the first 10 pages.
I FOIA's the DoF for my Ticket count from 11/08 to 7/14. The CD cost me 10 bucks due to the volume of data.
Anonymous Anonymous said...
I recall back around 1993-94 when CPD was told that there wasn't any extra money for a contract raise. The CPD hired their own auditors and scrutinized the city budget. They found A MILLION DOLLARS that wasn't declared by the city. So they got their raise fair and square.
What's the old saying: My accountant can beat up your accountant !
5/19/2015 02:45:00 AM
So...wht the fuck doesn't FOP do this every negotiation season?
I am all for cutting expenses to help fund pensions. I am also for fixing future pension promises. I am not for higher taxes. But if taxes do come, it will be hard to stick around.
As the old wayans movie "Mo Money' they said throughout the film Mo Money,Mo Money and rahm has millions tucked away Mo Money! He is a liar, to bad dean is so scared we could organize a march on a day when city council is in session (You know like the link card holders,and non-taxpyers do) march into council area and observe what they do! maybe ask some questions as the esteemed alderman run out when they know we want the truth! Maybe we could pin down "Curious george" cardenas and give him ideas where treasurer hunter rahm has money! All the money being spent, billions, but not giving to the pension funds is criminal! Rahm you and the 50 make the laws but violate the same laws you pass correct? "you have to know the rules before you make the rules you know it makes it more fun!"
There's plenty of dough. It is all going to the wrong places, like Don O'Neill's filthy pockets. And to think, that gold braid pension sucking CPD civilian was once president of a union. Disgraceful.
In yet another outstanding media attack piece on the CPD.
WBBM 780 reports that a video of a police officer napping in his car for fifty seconds has gone viral.
Said investigation even included calling downtown and wondering if there would be discipline!
Further skilled reporting related that the very corner of 63rd and Campbell where this took place was recently the scene of a shooting!
It's this kind of poor police work that allows criminals to run free!
Never mind there were probably 75 people out at the time of said shooting who all said "I didn't see shit".
That villainous copper took almost a minute to close his eyes! Perhaps if said investigation went further they may have discovered he had court all day, or over time the night before, or a sick kid/parent at home.
Oh I know the naysayers will criticize. Officer safety and all that noise. You're right, but a policeman closes his eyes and this is news worthy and yet another flogging in the media?
Give me a fucking break.
FUCK THE MEDIA, DON'T TALK TO THEM EVER
2:14 Am ..... Well spoken my friend,it appears to be their game, their rules and
,pleeeeeese someone tell me how our elected Pension Board members let this go on so long.
Wy don"t the Main Street Media print about all the $ Rham has to spend, but not to supply Pensions to the very People who paid what was asked of them, worked very hard and deserve what was promised them?
http://m.huffpost.com/us/entry/7312584
NY police Commissioner wants to void warrants and pardon minor criminals?
Not until these ass holes start ending up in jail and loose everything things will never change.
Look, at this point I would be happy if we still got half of what we were promised.
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Stand up, organize and lead. Spoken like a true little bitch. Do you think the sons of liberty and American revolution had an easy task? Many people didn't want to fight or rock the boat. I say flip the fucking boat over and start again. Don't be afraid to fight government even though you work for it. People worked for hitler too. You think that shit just happened in one big swoop over night? Started slow just like this shit.
Calm down. Chicago is not broke and has more than one avenue to correct their financial situation. From a speech at the City Club yesterday by an expert on municipal finance, Matt Fabian.
Chicago is the third-largest city in America. It’s nothing like Detroit. Chicago is a real city. There are people. There are jobs. There are solutions. There’s growth. If anything, the Loop is too crowded. It’s a completely different ballgame.”
If I were CPD at 10:50am...
Thank God you're not.
If you were you would realize that there isn't much "free cash" to invest in our retirement. We have to afford a safe neighborhood in this very expensive city AND in case you didn't know we do contribute to our pensions, unlike the city who makes excuses for approximately a billion dollar shortfall.
Oh, and if you knew what the hell you were talking about you would realize that over the past five years our department has been cut by far more than 10%. We are down 15-18% in manpower.
Take your business sense to General Motors and then vote yourself a bonus.
I have understood for my 20+ years on this job that our pensions are backed up by the state. However, I have never been able to find this in writing. Anyone know where this is 'codified?'
Anonymous Anonymous said...
I am all for cutting expenses to help fund pensions. I am also for fixing future pension promises. I am not for higher taxes. But if taxes do come, it will be hard to stick around.
5/19/2015 08:20:00 PM
But once taxes are raised house would be harder to sell!
Here is some math:
The combined pensions (Police, Fire, Laborers, Teachers & Municipal) that are currently underfunded amount to $28.2 billion.
The City spends roughly $7.0 billion per year. $3.5 billion of that spending is in the "Corporate Fund" which is money spent strictly on employee health insurance benefits, pension contributions, and debt service payments.
The other $3.5 billion is spend on day-to-day activities. Here, Police make up 39.9% of the spending while Fire makes up 16.4%.
We all agree there is wasteful spending in Chicago. But since we can't do anything about the Corporate Fund, and we can't do anything with the Police/Fire day-to-day spending, which makes up 56.3% of this spending, we are left with just $1.97 billion ($3.50 billion day-to-day spending minus the 56.3% allocated to daily Police & Fire protection).
So if we made the wild assumption that this entire $1.97 billion could be cut (meaning ZERO city services beyond Police & Fire) then it would take 14.3 years just to close the $28.2 billion pension funding hole.
Well just raise property taxes, you say! Well the City took in about $860 million of property tax revenues in 2014. Even if we were to double this amount, the extra $860 million of property tax revenues that would flow in (assuming people didn't move out) would take 32.8 years to close the pension funding hole.
So you see, there is no combination of spending cuts or revenue increases that can close this pension funding hole. None whatsoever.
The problem here is that these pensions are completely flawed, structurally. You have employees contributing ~9% of their salaries and the city chipping in another ~15%. (Very rough numbers but close). On an average police salary of $84,000, this amounts to just over $20,000 being set aside each year for pensions.
But the average pension payout is almost $55,000, so how does this gap between $55,000 eventual pension payout and today's $20,000 contribution get closed? Investment returns!
So what do these pension plans assume? They make the assumption that investments will generate 7.75% of annual investment returns.
The problem is this: since the start of 2000, stocks have generated annual returns of 4.2%. Government bonds have yielded an average 3.7%. And Corporate Bonds have yielded an average 6.5%. Any pension plan will allocate around 50% to stocks, and 50% to bonds, roughly speaking. So if we assume that's what these pension plans have been doing, then the annual return that has been generated since 2000 is only 4.7%.
What does the difference between the 7.75% assumed return and 4.7% actual return mean? Simply, if you had $1,000,000 at the start of 2000 and earned 7.75% each year, you would have $3,063,791 in 2014. If, however, you only achieved returns of 4.7% annually, then you would have had $1,983,049 in 2014. The difference in those returns resulted in 35% LESS assets in 2014 vs. the actuarial assumption of 7.75%.
So while we can all point fingers and wring our hands about how to pay these pensions, the fact of the matter is these plans are too far gone at this point to do anything about. You can't increase taxes or cut spending enough to close the gap. You aren't contributing enough to cover the future pension costs, and you're not even earning enough in investments returns to make up the difference.
These are the cold, hard facts. You can't run away from math and the math here does not add up.
>>>Here is MY question.....
So it's a legislative fact that our pension is guaranteed, as everyone agrees. Well, except the politicians who want to play games with it.
The politicians want to change it, right?
Well residency is a legislative fact also, but funny how all of the politicians insist "residency is a law, we can't do anything about it!"
Funny how they only consider laws hard-and-fast when it suits them. And by the way..........
LIFT RESIDENCY!!!
5/19/2015 02:14:00 AM<<<
If every Chicago Cop Voted>>>
If every cop's family member Voted>>>
The politicians would drop the residency rule in a New York minute.
Het Deano, why don't you push the BLUE VOTE.
So while we can all point fingers and wring our hands about how to pay these pensions, the fact of the matter is these plans are too far gone at this point to do anything about. You can't increase taxes or cut spending enough to close the gap. You aren't contributing enough to cover the future pension costs, and you're not even earning enough in investments returns to make up the difference.
These are the cold, hard facts. You can't run away from math and the math here does not add up.
5/20/2015 01:17:00 PM
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Here's a cold, hard fact for you. If the City put in the money it should, the fund could earn more in returns. More money in the investment account = more interest income, which, in turn, equals a bigger fund account, which can then reap even more in returns.
The pensions aren't 'too far gone' to recover. But the chutzpah of a certain City Hall dictator HAS gone too far.
STOP SPENDING on pretty trinkets and PAY THE BASIC OBLIGATIONS.
once the city ramie ballerina boy 9.5 puts in the $$$ owed , maybe raise our contribution by 1% , raise minimum age to COLLECT , not retire to 57 and raise mandatory retirement age to 65 our pension fund will be safe .
There is only so much money you can squeeze out of the taxpayers before they rebel at the polling place and put someone else in office.
the state is already at best a mediocre place to do business, and raising taxes while cutting services won't improve that situation.
you can talk all you want to about cutting the budget or raising taxes as a way to deal with the pension issue, but chances of it happening are remote.
as a practical matter, if the city does not pony up the "required" level of contributions, just what entity is going to do anything about it?
the courts can order the city to pay but if there are no funds to do so, it is a hollow order.
in any case police, fire, and debt service is somewhere around 50% of the budget. any significant cuts to the budget are not going to be able to touch debt service, so would have to at least in part come from police and fire spending.
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