Bond Rating
Illinois is in big trouble - trouble in a league of its own.
These are bond ratings as of 03 August:
These are bond ratings as of 03 August:
And with Fatass and Groot attempting to destroy what's remaining of tax generating businesses, it's not getting any better.
Labels: state politics
posted by SCC at 12:03 AM
66 Comments:
F/U CPS Teachers.
This is your future.
To quote Ralph Wiggums of The Simpsons: It is UNPOSSIBLE for Illinois to be beneath New Jersey!
WHOA! I thought Illinois had become a Red State for a moment there!
Hahahahahahaha!
rb
That's rich.
Like a center mass shot placement.
No worries. The CPD Police Pension Fund is fully funded! / sarc
A
I have trouble seeing colors, defective color vision is my handicap, but it sure looks like Illinois is the only red bond state.
Just keep voting the democrat ticket. Ya see, the politicians don’t give a shit because they’re just getting wealthier while in office. They’ll just move away and live off of the millions they stole from the fools that kept voting for them. People sure can be stupid.
Big fan and we are in big trouble but if California isn’t close to same color I don’t trust this graphic ... that said we are still in a hole we aren’t getting out of in our lifetimes just hope we collect a pension someday
Do NOT invest in real estate, including a home in this goodness foresaken state. It’s gonna get ugly.
I just keep seeing Gov Pigsker’s commercials to fleece Illinionians with a bullshit progressive income tax.
Fuuuuuucccccckkkkkkkkkk - my house will become worthless!
If they ruin it bad enough... an adult has to step in .... right ?
time to move from this shit-hole state to an all green red state... or is that racist too???
The masterminds of the scampaniic aren't as smart as they think.
Its been like this for how long?? Yet, no one asks why are we alone in this??Residents should be demanding answers from our Politicians, Madigan first.
Nothing new to see here in the corruption capital of the usa. We are even worse than the new jersey and california cesspools. The cherry on top of the shit pie are all the rubes we have running this place. Is it stupidity, an erosion of the commercial and residential tax base, thievery, or all of the above. 38 billion dollars and still counting in unfunded liability.
The Dems in failed states expect a big Federal Bailout.
Good luck with that, despots.
It kind of stands out, doesn't it?
Now, kees me you fool!!!!
No worries. I have an ultra-liberal sister. She doesn't worry about having multiple bankruptcies, she believes that it "it just happens".
there are enough stupid asses to vote for a graduated state tax.
who care about a bond rating? it's only financing found money.
The dems are hoping Biden wins for the bailout! I fear our pensions will b on the chopping block soon.
One of the biggest reasons why I'm moving from Chicago and Illinois!
This picture says a thousand words and more in future tax dollars against its citizens!
Politicians [Madigans, Daleys, Fat Boy Pritskers] have pillaged this state through the decades!
Taxes are headed way up in this thieving state!
Good Bye Illinois!
They can’t just use a 1-10 scale, with 1 being the lowest and 10 being the highest rating. Instead, it’s like CPS. No one gets below some version of a B. We can call it BBB for bonds, or a B- in CPS. In both cases, it’s just intended to make something look less pathetic than it really is.
Just understand this: on a scale of 1-10, with 10 being the best bond rating, Illinois sores a 1. That’s the reality.
Illinois already pays more than $12,000,000 A DAY in interest on its bonds. Just the interest.
Now that we are one baby step away from a junk bond rating, it will go even higher.
But the Libune and Slum-Times will endorse all of Madigan's stooges, people will blame Trump for all problems, and Illinois will continue its march of doom. Nothing will change.
The Madigan-Cullerton-Pritzker Democrat death spiral accelerates.
Thank you for the list of potential states to move to very soon
I would love to see the Bond ratings for Chicago and Cook County!
I'm betting equally bad, if not worse!
Time to leave this area!
Illinois is nearly $120 Billion in debt, compared to Cali & NY which are around $35B, followed by NJ & PA. Even IF the Fed's granted bailouts, you think Illinois will get more than NY or Cali? $30B wouldn't make a dent in Illinois.
Teacher's unions across the country are the DNC's cash cow, and they're making the calls in these sink hole states looking for a bailout for their unfunded pensions. Aint gonna happen.
Meantime Pritzker is so stupid he's bought all in on sinking the state. If he can stay out of jail, big IF when some of his stupid kickback moves come to light, his family will buy up property for pennies that they can sit on with their generational wealth. The rest of us will be dreaming of that retirement in Florida that never came true.
Fuuuuuucccccckkkkkkkkkk - my house will become worthless!
How so? Legit question, please elaborate.
Triple BBB negative! BBB-
Great. We’re screwed
I'll say it again, if you want your pension, Biden is the only one who will bail us out. I can weather four years of the left to keep my monthly check. Trump already said he will not help. And if you still live in this godforsaken state, it doesn't matter who is president, you are already fucked.
If the state is this bad, the county and city must be even worse.
1-Term JB the reformer is trying to save a little something for a Prickwrinkle loyalist to pilfer whereas 1-Term Larri is destroying everything so a Prickwrinkle loyalist won’t have anything.
JB ran and blamed Dr Hustle, buyout/buildup/sell high venture capitalist Rauner for failing when all along for the past 40 years it was Madigan and the Combine Players. Blago the Lighting Rod had plenty to say about this on his podcast.
More manufacturing shuttered by bankruptcy or moving out of state the more Red China sees property deals to be had...provided Trump doesn’t get re-elected of course. No jobs for the last 30 years and JB want Fed bailouts. It’s only been a year , but he hasn’t brought any hint of prosperity ever coming back, still whining for free handouts for the unemployable and extended relief for the workers and businesses that were forced into shutdown.
We need Term Limits, which will never have a chance with Madigan and JB.
So Indiana has a AAA rating. Illinois does not.
Must be from all the sales tax Indiana gets shipping their guns to Illinois
They can default on the bonds. And when there is no money to pay the bonds and if no land or other assets were put up to secure the loan default is what will happen. A pension is a debt the state can’t get out of, Like a student loan. If the state defaults bond holders get 1/10 of what they are due to get. They get totally fucked. however after the smoke clears someone will be lining up to loan these failed states money. Like a bad credit risk after a bankruptcy. The banks and investors don't make money with cash in a savings account at 1/2% interest per year. So pensioners will be fine, bond holders will get fucked royally.
It is only going to get worse. Keep voting DemocRATS.
“ Now it’s a time for great decision. Are we to stay or we to quit? There’s no avoiding this conclusion....our “state” is turning into shit”!
Thank Mel Brooks...from Blazing Saddles
When will the Feds react and indict the entire cabal of lecherous Illinois politicians?
Its been like this for how long?? Yet, no one asks why are we alone in this??Residents should be demanding answers from our Politicians, Madigan first.
8/09/2020 06:52:00 AM
You're right, but you know why they don't ask for answers? This kind of situation is hard to think about and boring. It isn't until it's too late that people start asking questions. Besides, the people that keep voting these politicians in get what they wanted; raises, pensions, etc. They don't think about the long-term.
rb
So much for using the Columbus statues as collateral now.
The state is going to be in real trouble when the wealthy & the fed up leave for good en masse, incl downtown businesses. Illinois is about where Detroit was in the '90's...the pols will keep doing the same things for as long as they can....until they can't do it anymore because the well is dry. As long as the fleeing mob don't bring their blue state voting patterns with them.
As for California...hard to believe they are "stable". But their state taxes & fees are astronomical, and they have a lot high net worth individuals and tech companies. Eventually, those idiots will get wise & leave, and likely bring their "progressive" politics with them. Texas beware.
Illinois and Chicago are the most corrupt state and city in the United States!!!!
Not to worry about Illinois finances. The stupid voters will approve the constitutional income change come this Fall. The state will immediately raise billions and be on their way out of debt. That is until the next year when the democrats approve billions more in useless spending. They they will decide to tax retirement income which is estimated to raise 2 billion more a year in tax revenue.
Anonymous Anonymous said...
Just keep voting the democrat ticket. Ya see, the politicians don’t give a shit because they’re just getting wealthier while in office. They’ll just move away and live off of the millions they stole from the fools that kept voting for them. People sure can be stupid.
8/09/2020 01:52:00 AM
I think the problem is it is illegal aliens and gibs me dat crowd voting in the Democrats. Anyone with a brain, and skin in the game voted conservative.
I think the Justice Department should look into fraudulent voting in Cook County. I’ve seen people who spoke no English at my polling place voting. You need to be proficient in English to become a citizen, no?
nonymous said...
Big fan and we are in big trouble but if California isn’t close to same color I don’t trust this graphic ... that said we are still in a hole we aren’t getting out of in our lifetimes just hope we collect a pension someday
8/09/2020 02:25:00 AM
actually I read last year the California is doing well and had a surplus a one time.Until the people get angry and demand that the democrats are serious about reform, it will just get worse
Don't worry, they are combining all 600 some downstate pension funds into one state run fund... They will have mucho dinero for their games, and the retired firefighters & police WILL LOSE EVERYTHING, CALL IT 'DEFUNDING public safety'........
The state can not even run the unemployment dept......what a joke.
The color red should also reflect the pension fund for the Chicago Police Department. A group of retirees have collected monies for a independent forensic audit of the funds. However, every single Police Elected Board member have voted against it. In fact, one member, who was a sergeant, got promoted to Lieutenant and is running for the Lieutenant's position. This person has the balls to say that in his tenure he merits being elected to the Lieutenant's position because he has done a great job in the sergeants position. He also is against the independent forensic audit of the funds. One elected police officer on the boards brags about how he catches Police dirty that are on duty disability. This particular disable officer criticizes any one who questions him regarding why he does not want this independent audit. It seems that the elected Police Officers Board members forgot who they represent. It is us retirees. I hope that every single one of them gets voted out of Office. We desperately need new representation of the Pension Fund. At the rate the pension is going, it will be out of money in a few short years. It is also a shame that the newly elected regime of the FOP does not want to get involved in this audit. The new President of the Union has stated on several occasions that he does not want the FOP telling the Pension Board how to run the Pension Fund. This is the same person who has stated on numerous occasions that he has no use for retirees in the FOP. Maybe his attitude would change if he didn't have a CR# over his head in which he just might get fired from the job and loose his pension rights. This state, this county, this city, and the FOP are so fucked up.
I talked to a guy that went through a underfunded pension issue. Actually the pension issue is easily solvable ( from the viewpoint of those NOT living in Chicago ). Declare bankruptcy. Place pensions under the federal rules for defined benefit plans. SEE-> https://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum-guarantee
NO PROBLEM ! Yes problem but the taxpayers would probably go for it and the politicians could point fingers and yell that THEY didn't do it.
Anonymous Anonymous said...
I'll say it again, if you want your pension, Biden is the only one who will bail us out. I can weather four years of the left to keep my monthly check. Trump already said he will not help. And if you still live in this godforsaken state, it doesn't matter who is president, you are already fucked.
8/09/2020 09:14:00 AM
------------
Who are you trying to convince? The Chicago voter? The Illinois voter? The public sector union member? Pointless. Illinois will go to whatever brain-dead/corrupt/communist presidential candidate put up by Dems.
Here's what you really need to do: convince taxpayers in the rest of the United States that they should bail out a state that been fatally mismanaged by Democrats for decades and shows no signs of changing its ways.
Let's see if taxpayers in Texas, Indiana and Florida feel as enthusiastic about a Biden bailout of Illinois as you do.
You young coppers must get out now. If you don't you better not ever say "Gee I had no idea this was going to happen to me".
Very ill-inois will not recover its solvency in your lifetime. Your pension will take a big hit, possibly up to a 25% reduction in benefit.
Current and future pensioners can sue but it will either take decades to wind through the courts or you will get the ruling you hoped would never happen, a big fat in your face loss.
Go now while you still can. Be safe out there.
Chapter 9 bankruptcy here we come!!
Anonymous Anonymous said...
I'll say it again, if you want your pension, Biden is the only one who will bail us out. I can weather four years of the left to keep my monthly check. Trump already said he will not help. And if you still live in this godforsaken state, it doesn't matter who is president, you are already fucked.
8/09/2020 09:14:00 AM
If Biden wins, the federal government will bail out the bankrupt states and cities. Win-win for Illinois pensioners and politicians. Not a win for people in states like Indiana. The Hoosiers will turn out to be the chumps.
I would love to see the Bond ratings for Chicago and Cook County!
I'm betting equally bad, if not worse!
Time to leave this area!
********
They are way worse then Illinois. A couple years ago, CPS was paying 9% to borrow money for 10 years. Think about that for a minute. You can probably take out an extended car loan for 6-7 years and pay 2% even with bad credit, but here, a major gov’t entity has to pay several times you as an individual in interest. That my friends is called a really shitty operated gov’t unit. Also, CPS and Chicago have been run by free spending Democrats for decades. Until 20-25 years ago, State was run by Republicans.
City’s and CPS debt is already junk status. A a financial advisor, I can’t express how disconcerting this is all becoming. The debt levels are insane. State plugged their budget by borrowing $6 B from Federal Reserve on a budget of $42 B - that is NUTS!!!!
To all young police - please note that pensions will likely not be financed in 20-30 years. Debt levels are too big.
Anonymous said...
Fuuuuuucccccckkkkkkkkkk - my house will become worthless!
How so? Legit question, please elaborate.
——————
If I bought the same house 20 years ago anywhere in FL, CA, AZ I would have an asset worth twice as much. My house has the same nominal value as I paid for it 20 years ago. A dollar today is worth less than a dollar 20 years ago. So in real terms my house did devalue. If I just got an inflation percentage increase my house would be worth at least 30-40% more. Now let’s do the math - state has lost population 6 years in a row - less people, less demand. Property taxes on any average house of $225-$250,000 is $5-$7k - house of $500,000 is $20-25 in many Chicago suburbs. Many people who are buying homes will not want to buy due to heavy carting costs. Less demand, lower prices. Finally, State, County and many cities have enormous amounts of debt. Who will pay it? We will with higher property taxes. State will probably take the teacher’s underfunded pensions (40% only) and push the obligations to local cities to pay it. They will also empower cities to raise property taxes. Long term property taxes will climb like a fighter jet. Will the house be worthless? 20-30 years from now more like Englewood value worthless.
“ Anonymous said...
I'll say it again, if you want your pension, Biden is the only one who will bail us out. I can weather four years of the left to keep my monthly check. Trump already said he will not help. And if you still live in this godforsaken state, it doesn't matter who is president, you are already fucked.
8/09/2020 09:14:00 AM”
YOU are probably, without a shadow of any doubt, THE most ignorant individual to ever post on this forum. Besides that, you’re a fucking LEMMING, you sheep! Thank the good Lord you’re retired and can’t infect the younger generation of cops with your asinine, putrid pablum.
I talked to a guy that went through a underfunded pension issue. Actually the pension issue is easily solvable ( from the viewpoint of those NOT living in Chicago ). Declare bankruptcy. Place pensions under the federal rules for defined benefit plans. SEE-> https://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum-guarantee
I remember reading that the Pension Guarantee Fund is for private (corporate) pensions only. It does not cover governmental pensions simply because it could never absorb the millions of government workers who have pensions. Just imagine the impact of having to cover all of the Postal workers. Anyways, the Pension Guarantee Fund only returns a fractional amount of what the regular pension would have paid out. It’s better than nothing but not significantly better.
Anybody who owns any Illinois municipal bonds needs to sell them NOW!
Something is better than nothing. Pennies on the dollar is better than worthless wallpaper.
Golf Tango Foxtrot Oscar
No, Wrong map, This one is for who has the most commies in elected positions.
To the poster about voting for Biden to get a pension. Your not going to get a cent! Illinois is f@$ked because of the pension systems. Yes they were promised but every mayor and governor from Daley to Pritzker have spent the money on pet projects and there is nothing left. Pension reform is needed, I left CPD 10 years ago and went to the feds. Already making more now then I would if I stayed on CPD. But guess what? My fed pension is only 30% after 25 years. Pension reform is needed in Chicago! 80% + is not sustainable! Quit saying we need/deserve ours! Wake up! It’s going to be bankrupt and your not going to get anything if your not willing to negotiate. 50% is more than enough plus you have deferred compensation which if you haven’t been paying into and are only relying on a 80% pension your foolish.
And yes I had more then 10 years and pulled my pension, pension board told me by the time I was eligible to collect it would be worthless!
Anonymous said...
“ Anonymous said...
I'll say it again, if you want your pension, Biden is the only one who will bail us out. I can weather four years of the left to keep my monthly check. Trump already said he will not help. And if you still live in this godforsaken state, it doesn't matter who is president, you are already fucked.
8/09/2020 09:14:00 AM”
"YOU are probably, without a shadow of any doubt, THE most ignorant individual to ever post on this forum. Besides that, you’re a fucking LEMMING, you sheep! Thank the good Lord you’re retired and can’t infect the younger generation of cops with your asinine, putrid pablum."
Ha! Enjoy your soon to be worthless Edison park ranch with the "garage top" 2nd floor addition, punk. This sheep was smart enough to get out, thank god you're still around to impart your wisdom on the younger generation.
Anonymous said...
I'll say it again, if you want your pension, Biden is the only one who will bail us out. I can weather four years of the left to keep my monthly check. Trump already said he will not help. And if you still live in this godforsaken state, it doesn't matter who is president, you are already fucked.
8/09/2020 09:14:00 AM
So you think Biden or those that would be pulling the strings will bail out cops? Why do you believe that, explain. He is going along with the defund the police agenda, and all the other progressive rubbish, he's a liar, dumb as a rock, and a crook. His handlers are further left than he is and hate cops, God and the traditional family. They are the folks that have poisoned public education. I hope there are no more at home like you.
"...Biden is the only one who can bail us out..."
When asked about this, Bad Touch Joe said: I didn't know that we were in a boat. Hand me a bucket.
Anonymous Anonymous said...“ Anonymous said...
“I'll say it again, if you want your pension, Biden is the only one who will bail us out. I can weather four years of the left to keep my monthly check. Trump already said he will not help. And if you still live in this godforsaken state, it doesn't matter who is president, you are already fucked.@ 8/09/2020 09:14:00 AM”
–
Your sarcasm stinging. I don’t think your annuity income can take 4 yrs of a Biden/Female presidency where handouts will be plenty and IL might start taking a graduated cut of pensions, (unless your a teacher) as well as larger income tax deductions on your 1099-R while reducing your exemptions.
Biden will bail us out? Where have you been during the 2008-16 fundamental changing food stamp presidency???
Want a history lesson...Look at the past 50 years just in greater Chicago of continuing bailing out, jobs leaving and bailout after bailout, handout after handout, community rebuilding, reinvestments and resources, not limited to free every from birth to casket, it’s in the trillions of dollars.
Don’t rely on Biden to save IL, a Tried and True Blue State. It’s why he’s The DNC has no interest - Dems always get the electorals. It’s another reason why DuckWorthless is not going to be VP. DNC a does not need IL, but it needs participants like those “willing to stomach” 4 years of another Dem fundamentally transforming the USA and the reward is pet project money, like never ending O’Hare modernization, Deep tunnel, expressway re-construction (and increasing IL tolls) and that wasteful, mismanaged and failing socialist Re-education system thats paying teachers to StayAtHome.
You, me and every Illinoian stomached needlessly since Abe Lincoln went to the theatre on April 14, 1865.
"Anonymous said...
To the poster about voting for Biden to get a pension. Your not going to get a cent! Illinois is f@$ked because of the pension systems. Yes they were promised but every mayor and governor from Daley to Pritzker have spent the money on pet projects and there is nothing left. Pension reform is needed, I left CPD 10 years ago and went to the feds. Already making more now then I would if I stayed on CPD. But guess what? My fed pension is only 30% after 25 years. Pension reform is needed in Chicago! 80% + is not sustainable! Quit saying we need/deserve ours! Wake up! It’s going to be bankrupt and your not going to get anything if your not willing to negotiate. 50% is more than enough plus you have deferred compensation which if you haven’t been paying into and are only relying on a 80% pension your foolish.
And yes I had more then 10 years and pulled my pension, pension board told me by the time I was eligible to collect it would be worthless!
8/09/2020 09:29:00 PM"
You have no fucking clue what you are talking about since you can't even state the accurate percentage once maxed out at 29 and a day. It's obvious you were never a Chicago Police Officer. And you're bragging about working for a federal agency? Is it the FB Lie? The Department of Just Us? Both corrupt entities to the core, of which you are a part of, and thus corrupt also.
Go take your 30% of max 150k pension and live off 45k you fucking troll.
"Anonymous said...
Anonymous said...
“ Anonymous said...
I'll say it again, if you want your pension, Biden is the only one who will bail us out. I can weather four years of the left to keep my monthly check. Trump already said he will not help. And if you still live in this godforsaken state, it doesn't matter who is president, you are already fucked.
8/09/2020 09:14:00 AM”
"YOU are probably, without a shadow of any doubt, THE most ignorant individual to ever post on this forum. Besides that, you’re a fucking LEMMING, you sheep! Thank the good Lord you’re retired and can’t infect the younger generation of cops with your asinine, putrid pablum."
Ha! Enjoy your soon to be worthless Edison park ranch with the "garage top" 2nd floor addition, punk. This sheep was smart enough to get out, thank god you're still around to impart your wisdom on the younger generation.
8/09/2020 11:03:00 PM"
I see someone's post got your goat, ole timer? Must suck being old watching the sand slip through to the bottom of that hourglass, isn't it?
nonymous said...
Anonymous Anonymous said...“ Anonymous said...
“I'll say it again, if you want your pension, Biden is the only one who will bail us out. I can weather four years of the left to keep my monthly check. Trump already said he will not help. And if you still live in this godforsaken state, it doesn't matter who is president, you are already fucked.@ 8/09/2020 09:14:00 AM”
–
Your sarcasm stinging. I don’t think your annuity income can take 4 yrs of a Biden/Female presidency where handouts will be plenty and IL might start taking a graduated cut of pensions, (unless your a teacher) as well as larger income tax deductions on your 1099-R while reducing your exemptions.
Biden will bail us out? Where have you been during the 2008-16 fundamental changing food stamp presidency???
Want a history lesson...Look at the past 50 years just in greater Chicago of continuing bailing out, jobs leaving and bailout after bailout, handout after handout, community rebuilding, reinvestments and resources, not limited to free every from birth to casket, it’s in the trillions of dollars.
Don’t rely on Biden to save IL, a Tried and True Blue State. It’s why he’s The DNC has no interest - Dems always get the electorals. It’s another reason why DuckWorthless is not going to be VP. DNC a does not need IL, but it needs participants like those “willing to stomach” 4 years of another Dem fundamentally transforming the USA and the reward is pet project money, like never ending O’Hare modernization, Deep tunnel, expressway re-construction (and increasing IL tolls) and that wasteful, mismanaged and failing socialist Re-education system thats paying teachers to StayAtHome.
You, me and every Illinoian stomached needlessly since Abe Lincoln went to the theatre on April 14, 1865.
8/10/2020 08:49:00 AM
__________________________
Fuck the feeble old white guy and the VP Kamala Harris(the real President-not the imbecile in the basement). Kammy will dog fuck old joe into the senior home within the firt year of his (her) presidency. A vote for Joe is a vote for Kammy.
Post a Comment
<< Home