Chicago police keep nearly 400,000 on a secret watch list
By George Marlowe
24 May 2017
"They may be fighting over who will be first in line to be paid, but they all agree that workers, pensioners and the poor will have to sacrifice their jobs and living standards."
Such states, particularly Illinois, are teetering on the edge of default for many of the same reasons as Puerto Rico; these include accelerating pension costs, crumbling infrastructure, deindustrialization and the migration of younger workers.
Rahm’s latest plan to stave off Chicago financial collapse under fire – from Dems
Under fire for authorizing a “payday loan,” Mayor Rahm Emanuel on Friday defended his plan to let the Chicago Public Schools borrow $389 million secured by late block grants owed by the state.“You have a situation…created by the state of Illinois to create a maximum amount of pressure on the public schools, specifically Chicago,” Emanuel said.“It’s a short-term solution to a short-term problem created consciously, woefully by the governor to create political pressure. That’s how we’re handling it. That’s the most appropriate way to deal with it.”Aldermen don’t see it that way. They likened it to the skipped pension payments that got CPS into this mess and Emanuel vowed to end.“Daley didn’t pay pensions. This is borrowing instead of not paying. You’re still robbing Peter to pay Paul and putting a Band-Aid on it,” said South Side Ald. Anthony Beale (9th).“We’re borrowing money hoping that, eventually, the state comes through. If the state doesn’t come through, we’re gonna be in worse shape tomorrow than we are today. It’s gonna cost to borrow money. Taxpayers are still losing.”
Chief Financial Officer Carole Brown said the short-term loan will be limited to $389 million because the school system’s “lending partners” were willing to finance only about “85 percent of the outstanding receivable” of state grants. The rest will come from savings generated by mid-year budget cuts, Brown said, with a hazy explanation that raised more questions than it answered.
THE SINS OF THEIR FATHERS:
THEIR GLOBAL LOOTING of the POOR
THE OPEN BORDERS PARTY of GEORGE SOROS, HILLARY & BILLARY CLINTON, BARACK OBAMA and DONALD TRUMP
HIS GOLDMAN SACHS REGIME and GOD
FATHER, GEORGE SOROS… .global looters of
THE OBAMA DOCTRINE:
Under the Obama administration, more Americans have found
themselves consigned to economic ghettos, living in
neighborhoods where more than 40 percent subsist below the
million dollars—or even $267.5 million—is a
small price to pay for the contribution the
former president made to enriching the already
fabulously rich, defending the American ruling
elite’s geopolitical interests around the world
and continuing the assault on the wages,
benefits and living standards of the working