Detroit, Chicago, Baltimore, Blueprint for Progressives

[Newt]

Moody's downgrades Chicago credit rating to junk status


quote:
Debt-ravaged Chicago had its credit rating cut to junk on Tuesday by Moody's Investors Service, just days after the Illinois Supreme Court rejected a plan to overhaul the state's woefully underfunded state pension plan.

LINK

quote:
Mayor Rahm Emanuel criticized Moody's as being "irresponsible" and noted that their dour outlook of Chicago's difficult financial situation is four to six steps out of line with other leading rating agencies.

"While Chicago's financial crisis is very real and at our doorsteps, today's irresponsible decision by Moody's to downgrade the City's credit by two steps goes far beyond that reality," Emanuel said. "Their decision was driven solely by the overturning of a state pension bill that did not include Chicago's pension reform, yet they did not downgrade the State of Illinois."

http://www.usatoday.com/story/news/2015 ... /27201829/

Hey Rahm, you moron, don't go out there and criticize the rating agency. This is your bed. Take some ownership! Where the hell is the leadership?

What a crap storm governor Rauner inherited. How does the third largest city in the country find itself in such a terrible financial situation?

Somebody is going to have to make sacrifices up there in the windy city, and it will either be Chicago taxpayers through increased taxes, or government employees/retired government employees.

I know we want to attract good, competent folks to work in our government agencies, but darn some of the pension benefits are unbelievably generous. Far better than many private sector folks will be getting.

[bluemouse]

Good news obabbler is going to build his libary on the south side of Chicago, They need donations to build a wing large enough to hold all his lies and additional white wash to cover the spray paint tagging in the future.