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The Supreme Court of Illinois handed down a verdict that public pensions can’t be adjusted. What does that mean for the state and city of Chicago,  bankruptcy? No other answer.

The credit rating for the city was downgraded to junk bonds after the court verdict. Why, the credit agencies know the unfunded pension liabilities can’t be paid? The media say property taxes must be raised to pay the obligations. The protesters, all 20 of them the local media tried to make look like 2,000, say corporations must pay the freight. Both may happen. It’s happened other places, like Detroit. The result, both moved away. Homeowners moved to the burbs and corporations moved to another state. Can’t move out-state in Illinois, since the state is in the same shape as the city.

How did this happen? Over time two events took place. First, promises were made that can’t be kept regarding the level of pensions that public employees receive.  Far too much money vs. capacity to pay that level of pensions. Second, politicians looted the pensions funds for other purposes.  No different from the private sector. Bad management. In the private sector, the management gets changed before bankruptcy occurs or, if that doesn’t happen, soon after. In the public sector Mayor Daley retires and Mike Madigan keeps running the state. Into the ground.

If the state tries tax increases, its goodbye to my tax dollars. I simply move my residency to Arizona. Just one more month is all that takes. Business is already moving to Indiana and Wisconsin. How many homeowners in Chicago will decide they can’t pay an ever-increasing property tax rate to support their retired neighbor’s generous pension plan? How many of those already receiving that generous pension have already moved elsewhere to avid the high property taxes in Chicago and the rest of Illinois?

More public employees are retiring every day. The escalators in the pensions plans will keep increasing the obligations. People are living longer. The public employees who administer the pension funds underperform the private sector when it comes to investment returns on those funds. But, they consistently over-estimate future earnings. So, it’s really worse than the published numbers suggest.

The truth of the matter, it’s unfixable. And, every form of media in Illinois applauds the court decision and supports the tax increases. Teachers in Chicago are poised to strike yet again for higher wages. Where does that money come from? It doesn’t come from the teachers who struck a deal years ago where they only pay 1% into those hefty pensions.

Someone suggested every public employee in the City of Chicago and the State of Illinois be fired. Then, and only then, can they be re-hired and a new pension agreement be initiated. That is the only way under the court ruling that any adjustment can be made to the pensions. New employees can be put under a new structure. Sure, that will happen.

Another great suggestion. Tax pensions, including social security. Great idea, between the Feds taxing social security, ObamaCare eating up a pile with Medicare increases, and inflation, the City of Chicago can take the rest.How’s this for income redistribution? Everyone with a pension gets taxed so public employees can retire to Florida with three times the pension the 90% getting taxed receive?

No, what will happen is Chicago will follow Detroit into bankruptcy. Emanuel didn’t do this. But, he won the election and gets the short straw and will get the blame that follows. He can do nothing to save his political future. In his inaugural address he said nothing about the city’s financial mess. He spoke about the need to give the youth of Chicago a better life. How, with money the city doesn’t have?

Governor Rauner has more to work with than the mayor. He is better equipped to solve this disaster. But, he will get absolutely no help from the Democratic congress in the state.

How do you like these apples, grandkids of yours and mine? We, you and I, have done this to them. Our passive stupidity continues even as the storm watchers( credit rating agencies) tell us the storm is upon us. We , too, know it can’t be fixed by conventional means. We, too, know the courts don’t care if the tornado levels the city and the state. Not the court’s problem.  Other states and other cities have taken corrective action and their storms have blown over and into Illinois.  They are positioned well to benefit from the carnage in Illinois.






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First, send them to school. All the teachers are members of a union. The union collects dues. The dues go to elect politicians who support liberal causes. Hence, they support lower test scores since they object to rating teachers on test scores, weeding out poor performing teachers, paying teachers more than property taxes can support, and giving everyone in the system pensions that can’t be funded. Hence, every school superintendent in Illinois now gets a minimum of $200K a year in pension payments with escalators that will take that to $300K in 10 years.  So, from kindergarten on to high school graduation, you get liberal brainwashing for the kids. Now, send them to the university.

There it only gets better. They did a study at the University of Oregon a few years back. Over 90% of the professors and administration were registered democrats and a like amount of political contributions went to the democratic party. It would have been 100% but there is a business school at the University of Oregon. Plus a few in the engineering school were exceptions. If the EL-HI didn’t get the brainwashing job done, you can count on the university to finish the work.

Live in a big city or a blue state. If you are raising your family in California or New York state or in Chicago, they will learn why the democratic candidate for president starts every election with the big advantage of having a pile of electoral votes that can only be overcome by Florida, Ohio, Wisconsin, Pennsylvania, and Virginia. Blue states forever. The democratic party knows their work is almost complete. Knock off a few more of those swing states and put them in the forever bank and no republican will ever be elected president again in this country.

Let them watch TV or go to the movies.  The entertainment industry is solidly liberal. If you are an out-of-the-closet non-liberal like Jon Voight, you don’t get work in Hollywood. So every product that gets produced by those liberals gets a liberal twist whenever possible. Watch any awards show, except the Country and Western shows, and you will see idiots spewing politics while getting some award. See where Obama goes to get his cash anymore since Wall Street is on to him.

Have them go to work for a high-tech company. It’s a given that everyone there held that liberal education beyond university and they live it every day.  They all shop at Whole Foods, worship at the throne of Obama, and belong to the Sierra Club. But, if it’s a daughter you are sending there, don’t hold out much hope of her getting a big job. Seems they all skipped that idea in Silicone Valley. Black daughter, forget it.

There you have it. Unless you live in a small to medium-sized town outside a blue state where teachers aren’t unionized and you monitor their TV and movies, you lose. It might help if the kid studies business or engineering at the university. And if they go to work in the oil patch or for a non-tech company.

What will break the cycle? Well Scott Walker has started the process in Wisconsin where the good teachers don’t have to be paid the same as the losers. The losers are being weeded out without the unions and test scores are going up. When colleges and universities start closing because kids refuse to take out $150K in student loans for their inferior product,  change may happen there. When democratic-run cities like Detroit and now Baltimore show failure, change may occur. Chicago is right on their heels since they can’t pay the bills. When property and sales tax increases in states like Illinois drive businesses and citizens out of the state in droves, change might occur. When business people run colleges to keep them from tanking, change might occur. With all of that, it won’t happen in my lifetime in California or New York state. Nor Minnesota, Washington state, Oregon and New England. California filing bankruptcy is the only way change will ever occur there.

There might be some hope. The UK just re-elected David Cameron despite the polls saying he was done. The opponents even hired Axelrod to save their bacon and it didn’t work. The good people of the UK, especially Scotland, decided they like the conservative direction better than the liberal path. Maybe being better off than the rest of the European Union was helpful. Who knows, if it can happen there, it can happen here? It’s not enough to have cities with republican mayors doing well and  states with republican governors doing well, that doesn’t register with voters. Only when Wisconsin, Michigan, and Indiana began to take all the jobs away from Illinois did Illinois go for a republican governor. Who knows?

But, for the near future, your kids will grow up liberals despite your parenting. Sorry.

 






Comment (1)

  1. Tom Reynolds says:

    Very Good Bill. This is scary. I feel sorry for our grandkids.

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Let’s see, who is currently in front of the court of public opinion? There’s Tom Brady, the QB for the Pats who has been judged guilty by that court. Hence, the NFL says Tom will serve a 4 game suspension for perhaps knowing something about the deflated footballs. He will appeal, and unless the NFL gets more than” perhaps he knew something”, he will win the appeal.  There are six cops in Baltimore who a prosecutor says  caused the death of Freddie Gray and will face judgment by a real court-maybe? But, until then, they killed poor Freddie. The Clinton’s, not so much. There’s that book that outlines possible serious misdoings by both, but the “court of public opinion” is taking a pass on this one, choosing to focus more on Tom Brady. The thing about the “court of public opinion” is they pick favorites. They don’t like the NFL, ask the commissioner who they convicted in the Ray Rice issue then went after Roger’s head. Goodell survived and now is back in their bad graces over the Brady deflategate issue. Like a pound or two of air in footballs in a rout made a difference in the lives of all American’s.  But, a presidential candidate who may know a lot about four people dying in Benghazi or selling this country down the river for cash, isn’t worth discussing or judging? Not if you want her elected, it isn’t.

hillary lovers

Is there a court of public opinion? Ask the cop in Ferguson, MO. if one exists. “Hands in the air, don’t shoot” never happened. But, it sure did in the media for weeks. Ask the fraternity at the University of Virginia ? Which will now be the richest fraternity in the history of fraternities when they get their payoff from Rolling Stone Magazine. Should they be getting settlements from other forms of media, sure? They all piled on, didn’t they? Don’t like fraternities or Lacrosse teams, ask those Duke University lacrosse players who may be more wealthy than the Virginia fraternity? Remember what the “court of public opinion” did to them and to Duke University?  Duke kicked them out of school based on the “court of public opinion” and that resulted in an undisclosed settlement from Duke. Plus one from the prosecutor’s office after they fired the prosecutor who started the whole mess.

The main target for the “court” these days is cops. See cops make mistakes. It doesn’t make them anything but human. It isn’t a racial thing, since they make mistakes with everyone, not just people of color. Cops are a cross-section of humanity. There are some who are error prone, some who have anger issues, and some who may be prone to violence. If one of them makes a mistake with someone not of color it’s not a problem the “court of public opinion” cares to notice. Or, if person of color kills a cop like one did in New York, not a big story for the “court”. If four persons of color kill two cops, one of color,  like they did in Mississippi, not much of a story for the “court”.  But, if a person of color is killed or injured by a cop or cops, gear up the “court”. See, its great fun to start a riot. Not such a good story to cover the  thousands who came out for the funeral for said cop in New York. Reverend Al skipped that funeral. He only goes to those being covered by the “court”.  See, Al and the court are on the same page. Otherwise, why would we even know there’s a Reverend Al?

The little terrorist issue in Texas. Tough deal for the “court”. See, their man, Obama, can do no wrong. The FBI says they tipped the cops in Texas about the bad guys, but the cops in Texas say they never got a tip. The FBI and Homeland Security say there are too many ISIS converts to keep tabs on of all of them. The “court of public opinion” would never allow profiling, which would narrow the job and I could avoid what I now go through at airports with a knee replacement, but far better for me to endure that than to have that guy from Syria on a Visa  put up with unfair treatment.

We have sold out in America to the “court of public opinion” They decide whats good and bad for us. I don’t care about gay rights, they can have all the rights in the world as far as I’m concerned. But, I must be told several times a day that it’s not fair. I don’t think Obama is doing a good job as president, but I must be told several times a day that he is. I think cops keep us all from becoming Detroit, but I’m told cops are bad. I don’t think cops are bad only to people of color, but I must watch as businesses burn because the court likes to light the match.  I know the NFL has some bad actors, but I don’t want the NFL to go away. But, the court does. Fraternity boys screw up. But, the court needs to stop convicting the innocent because those geeks in the court could never be in a fraternity. I don’t choose to buy the climate change crap. First, it’s being produced by the United Nations, which should go away and NASA which the president  is making go away and they need something to keep their jobs. Facts don’t support the claims. They, the court, did that kittle global freezing number in the 70’s.  But, I resent being called stupid by the “court”. I could go on. But, you get the picture.

The so-called court believes they are calling the shots in this country today, just as Goebbels, as  the Minister  of Propaganda,  thought in Germany in the 1940’s. More powerful than the leaders. They decide what’s best for the country. They help us think, since we can’t think for ourselves. It isn’t journalism, it’s running the court of public opinion, public opinion as determined by those in the court. The heads of media who all practice” group think”. Europe is a better place than America, as we have known this country, we must help America become Europe.  That’s the new version of journalism, ” the so-called court of public opinion” as determined by the media.






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