More Bad News on the Pension Crisis

by | Jun 27, 2012 | Business, Finance, Mayor's Race, Politics | 1 comment

If I was Rahm I would so totally throw Daley under the bus on this issue.

The debt from 10 Chicago-area pension plans swelled more than 600 percent to $27.4 billion between 2001 and 2010, according to a study released Monday by the nonpartisan Civic Federation. That’s $8,993 for each man, woman and child in Chicago, according to the report.

The shortfall comes on top of more than $83 billion in unfunded pension liabilities at the state level, driving the cost up to nearly $15,000 per Chicagoan, the report shows.

via chicagotribune.com.

Shear insanity.

 

Related Posts

More Bankruptcy Coming (to a city near you)

by | Jul 28, 2013 | , ,

The top 10 biggest U.S. cities on the brink of pension bankruptcy. #1 Philadelphia - Unfunded liability of $9 billion, $16,696 per household, only 1 year before the pension accounts are empty #2 Chicago - Unfunded liability of $44.8 billion, $41.966 per household,...

Feds Ask Web Firms For Account Passwords

by | Jul 25, 2013 | , ,

The U.S. government has demanded that major Internet companies divulge users' stored passwords, according to two industry sources familiar with these orders, which represent an escalation in surveillance techniques that has not previously been disclosed. If the...