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Chicago - There is almost no money

there can be only one answer this time:

1816935-godzilla1954c.jpg
 
The answer is not helpful to my political point of view, so I shall declare the insolvency of our dependency/entitlement programs "too complex" for succinct analysis. The brilliance behind spending money we don't have by the fistful is simply too nuanced for you mouth-breathing, simpleton conservatives to appreciate. The answer, of course, is more government and more dependency. Give it time (and of course, more borrowed money). Good day to you, Sir.

Am I doing it right?
 
jhmd2000 said:
The answer is not helpful to my political point of view, so I shall declare the insolvency of our dependency/entitlement programs "too complex" for succinct analysis. The brilliance behind spending money we don't have by the fistful is simply too nuanced for you mouth-breathing, simpleton conservatives to appreciate. The answer, of course, is more government and more dependency. Give it time (and of course, more borrowed money). Good day to you, Sir.

Am I doing it right?
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All governments at every level spend money that they don't have in hand at the time.

Do you think that the reason that tax revenues are lower than projected is a simple answer? Because it seems to me there are a lot of complex reasons that the money isn't there.
 
My guess is that when the money runs out people in Chicago will have a lot of reasons for why it went wrong.
 
BeachBumDeac said:
All governments at every level spend money that they don't have in hand at the time.

Do you think that the reason that tax revenues are lower than projected is a simple answer? Because it seems to me there are a lot of complex reasons that the money isn't there.
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Why this has occured isn't very relevant now that it is a real problem. And the unions in Chicago, predictably, don't want to be part of the solution even though it is their pensions that are far and away the single biggest impediment to fixing the problem. 19.2 BILLION in the hole. That will require things to be restructured - a point the mayor, we all know his name, recognizes and wants to meet head on.

It is also pretty ironic that the unions - who always proclaim to be for the children and the average citizens - are willing to watch current teachers, police and fire fighters get canned to protect 100% of the benefits of those who are no longer working.
 
rj says Rahm's plan to spend hundreds of millions on an arena for DePaul is a good idea that will pay for itself.
 
BeachBumDeac said:
All governments at every level spend money that they don't have in hand at the time.

Do you think that the reason that tax revenues are lower than projected is a simple answer? Because it seems to me there are a lot of complex reasons that the money isn't there.
Click to expand...

Yes, actually it is. It is simple high school math, and always has been, but the politicians making the pension concessions refust to admit it based on personal objectives. It is the same math that caused the vast majority of currently-successful private companies to do away with pensions. It is the same math that said that the union pensions would bankrupt the auto manufacturers. It is the same math that said the bulk of our manufacturing jobs would go overseas. It is the same math that says Social Security will run out. Keep trying to distract from it and ignore it, but at the end of the day the math is going to win.
 
BobStackFan4Life said:
rj says Rahm's plan to spend hundreds of millions on an arena for DePaul is a good idea that will pay for itself.
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I doubt there is anyone on earth who believes building DePaul their own arena with tax funding is a good idea. I'd be shocked if anyone at DePaul thought that was a good idea in their heart of hearts.
 
2&2 Slider To Leyritz said:
Yes, actually it is. It is simple high school math, and always has been, but the politicians making the pension concessions refust to admit it based on personal objectives. It is the same math that caused the vast majority of currently-successful private companies to do away with pensions. It is the same math that said that the union pensions would bankrupt the auto manufacturers. It is the same math that said the bulk of our manufacturing jobs would go overseas. It is the same math that says Social Security will run out. Keep trying to distract from it and ignore it, but at the end of the day the math is going to win.
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I mean... it's math PLUS predicting the future. Predicting what people/companies are going to do in the future is not simple high school math
 
BeachBumDeac said:
I mean... it's math PLUS predicting the future. Predicting what people/companies are going to do in the future is not simple high school math
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After doing the math, the private sector (in the past) saw clearly that the present would not sustain the portly pensions that unions fought so hard to protect, so they shifted away from DB plans to DC plans. It's time that the government of 2014 caught up to the private sector in 1985.
 
DeacMan said:
I doubt there is anyone on earth who believes building DePaul their own arena with tax funding is a good idea. I'd be shocked if anyone at DePaul thought that was a good idea in their heart of hearts.
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You would be wrong. rj has total faith in Rahm and is certain the investment will pay for itself. Some might say his optimism is misplaced, or even insane, but do not doubt him.
 
DeacMan said:
I doubt there is anyone on earth who believes building DePaul their own arena with tax funding is a good idea. I'd be shocked if anyone at DePaul thought that was a good idea in their heart of hearts.
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Here it is. rj actually started a thread about it. Does it really surprise you he would be all for it?

I stated: "Turning down 10 years rent free at the United Center and instead choosing to spend $300 million on a new arena for a team that most people in Chicago don't give a shit about- sounds about right."

rj responded: "The arena is going to be used by the casino as well. It should pay for itself quite easily."

http://www.ogboards.com/forums/showthread.php/17560-DePaul-to-get-new-arena-that-could-include-a-casino?highlight=DePaul
 
jhmd2000 said:
After doing the math, the private sector (in the past) saw clearly that the present would not sustain the portly pensions that unions fought so hard to protect, so they shifted away from DB plans to DC plans. It's time that the government of 2014 caught up to the private sector in 1985.
Click to expand...

Jhistorianmd
 
Well, no one in Chicago gives a rat's ass about DePaul. Even if DePaul were to become a competitive program again it would never be anything like it was back in the days of Aguire, etc. A casino might be able to pay for itself though. Such is the nature of humanity.
 
BeachBumDeac said:
I mean... it's math PLUS predicting the future. Predicting what people/companies are going to do in the future is not simple high school math
Click to expand...

It wasn't predicting the future by crystal ball, it was making a pretty easy educated guess about the future given the pretty clear population demographics available to anyone who bothered to look. Making the "prediction" made by the politicians in question that the tax base would increase to the levels needed to sustain the pensions is akin to looking at [Redacted]'s recent records and "predicting" that he is going to make the Final Four in the near future, and then betting the entire AD budget on that prediction. It was completely out of whack with reality. Again, almost every successful private entity reached the same conclusion decades ago.

Hell, the business profs at Wake were preaching this in the mid-90s; here we are almost 20 years later having seen it play out exactly as forecasted, and people still act like it is a surprise.
 
2&2 Slider To Leyritz said:
It wasn't predicting the future by crystal ball, it was making a pretty easy educated guess about the future given the pretty clear population demographics available to anyone who bothered to look. Making the "prediction" made by the politicians in question that the tax base would increase to the levels needed to sustain the pensions is akin to looking at [Redacted]'s recent records and "predicting" that he is going to make the Final Four in the near future, and then betting the entire AD budget on that prediction. It was completely out of whack with reality. Again, almost every successful private entity reached the same conclusion decades ago.

Hell, the business profs at Wake were preaching this in the mid-90s; here we are almost 20 years later having seen it play out exactly as forecasted, and people still act like it is a surprise.
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Exactly. Public pensions were often higher in order to retain employees at much lower salaries. But salaries have gone up tremendously in the public sector. People can retire with only 20 years of service and get a substantial pension....and go on to work another public job for 20 years to get a second one. This was all very predictable.

The dominant New Deal group think prevented most people from believing it though. Big gubmint is always great!
 
DeacMan said:
A casino might be able to pay for itself though. Such is the nature of humanity.
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A casino will not be part of it. Yes, a casino might pay for itself. But you don't need to spend taxpayer money on the arena to have a casino. Also, DePaul's attendance averaged 2,900 over the last three years. Sounds like a great use of taxpayer funds for a revitalization effort. A person would have to be a complete idiot (or a corrupt politician who stands to benefit) to support this, especially in light of the difficulties facing Chicago. Anyway, Rahm got his money and the arena is moving ahead. At the same time they're gutting the schools. Way to go Chicago.
 
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