Moody’s Investors Service has downgraded to A3 from Aa3 the rating on the City of Chicago’s (IL) $181 million of outstanding rated motor fuel tax debt. The outlook has been revised to negative. via Moody’s. Surprises no one. Barely qualifies as news...
Gov. Pat Quinn’s administration delayed Wednesday’s planned sale of $500 million in construction bonds, saying a recent credit downgrade because of inaction on government worker pension reform left the market “unsettled.” The decision was made...
Johnson’s first point was that the US political system is in desperate need of transparency. Whether Obama or Romney is elected next month, he told the audience, we will still have “a heightened police state in the US.” And Obama and Romney are...
While Emanuel can coast for two more years, the city in 2015 is required by law to set aside an additional $700 million a year for two of its four pension funds, all of which are woefully underfunded: That year’s budget will include a total of $1.2 billion for...
I wrote this a few weeks ago as a comment on a retired teacher’s blog. The post there was about how we need to “tax the rich” in order to fund the teachers’ pensions. I was asked to comment on the post by a retired teacher I know. Analysis...