Cook Co taxpayers owe $108 billion, county Treasurer Pappas says: Greg Hinz

Jetdawgg · 06-22-2011, 11:31 PM

[QUOTE]The average Chicago household now owes a staggering $63,525 to cover local government debt, according to Cook County Treasurer Maria Pappas.

Suburbanites are deeply in the red, too, with the average household owing $32,901, according to the treasurer.

Among the biggest reasons: $25 billion in unfunded pension liability.

In comments after an appearance Tuesday before the Civic Federation, a watchdog group that has released somewhat similar numbers in recent years, Ms. Pappas said she was "stunned" to learn that county taxpayers on the whole owe more than $108 billion toward local debt. [/QUOTE]

Read more: [url]http://www.chicagobusiness.com/section/blogs?blogID=greg-hinz&plckController=Blog&plckBlogPage=BlogViewPost&uid=1daca073-2eab-468e-9f19-ec177090a35c&plckPostId=Blog:1daca073-2eab-468e-9f19-ec177090a35cPost:73061b12-c71d-45b0-aad9-130e57727e64&plckScript=blogScript&plckElementId=blogDest#ixzz1Q4Au8mfc[/url]
Can't afford to pay for 5 employees when only one is working

southparkcpa · 06-23-2011, 08:59 AM

[QUOTE=Jetdawgg;4051771]Read more: [url]http://www.chicagobusiness.com/section/blogs?blogID=greg-hinz&plckController=Blog&plckBlogPage=BlogViewPost&uid=1daca073-2eab-468e-9f19-ec177090a35c&plckPostId=Blog:1daca073-2eab-468e-9f19-ec177090a35cPost:73061b12-c71d-45b0-aad9-130e57727e64&plckScript=blogScript&plckElementId=blogDest#ixzz1Q4Au8mfc[/url]
Can't afford to pay for 5 employees when only one is working[/QUOTE]

This will go no where...the "civil service" dominated country who ALL have a close family member collecting a government pension or disability at age 50 or less see nothing wrong with it.

There is NO industry that could survive under this business model. NONE.

FF2® · 06-23-2011, 09:51 AM

[QUOTE=southparkcpa;4051877]This will go no where...the "civil service" dominated country who ALL have a close family member collecting a government pension or disability at age 50 or less see nothing wrong with it.[/QUOTE]

Interesting. Tell us more about this please.

quantum · 06-23-2011, 12:44 PM

New rules are needed, but you can't pay govt employees sub-market wages, no pension AND healthcare options like you'd find in a corporation.

Jetdawgg · 06-23-2011, 12:52 PM

[QUOTE=southparkcpa;4051877]This will go no where...the "civil service" dominated country who ALL have a close family member collecting a government pension or disability at age 50 or less see nothing wrong with it.

There is NO industry that could survive under this business model. NONE.[/QUOTE]

[IMG]http://4.bp.blogspot.com/-yYFPBI1EIQU/TZ5GxER9kcI/AAAAAAAAARY/LKyWwCN84Fc/s1600/Broke-Uncle-Sam.jpg[/IMG]

06-22-2011, 11:31 PM	#1
Jetdawgg All Pro Join Date: Aug 2004 Posts: 6,687	Cook Co taxpayers owe $108 billion, county Treasurer Pappas says: Greg Hinz [QUOTE]The average Chicago household now owes a staggering $63,525 to cover local government debt, according to Cook County Treasurer Maria Pappas. Suburbanites are deeply in the red, too, with the average household owing $32,901, according to the treasurer. Among the biggest reasons: $25 billion in unfunded pension liability. In comments after an appearance Tuesday before the Civic Federation, a watchdog group that has released somewhat similar numbers in recent years, Ms. Pappas said she was "stunned" to learn that county taxpayers on the whole owe more than $108 billion toward local debt. [/QUOTE] Read more: [url]http://www.chicagobusiness.com/section/blogs?blogID=greg-hinz&plckController=Blog&plckBlogPage=BlogViewPost&uid=1daca073-2eab-468e-9f19-ec177090a35c&plckPostId=Blog:1daca073-2eab-468e-9f19-ec177090a35cPost:73061b12-c71d-45b0-aad9-130e57727e64&plckScript=blogScript&plckElementId=blogDest#ixzz1Q4Au8mfc[/url] Can't afford to pay for 5 employees when only one is working

06-23-2011, 08:59 AM	#2
southparkcpa I see the 88 to 97 period all over again. Jets Insider VIP Join Date: Sep 2005 Location: NC Posts: 15,689	[QUOTE=Jetdawgg;4051771]Read more: [url]http://www.chicagobusiness.com/section/blogs?blogID=greg-hinz&plckController=Blog&plckBlogPage=BlogViewPost&uid=1daca073-2eab-468e-9f19-ec177090a35c&plckPostId=Blog:1daca073-2eab-468e-9f19-ec177090a35cPost:73061b12-c71d-45b0-aad9-130e57727e64&plckScript=blogScript&plckElementId=blogDest#ixzz1Q4Au8mfc[/url] Can't afford to pay for 5 employees when only one is working[/QUOTE] This will go no where...the "civil service" dominated country who ALL have a close family member collecting a government pension or disability at age 50 or less see nothing wrong with it. There is NO industry that could survive under this business model. NONE.

06-23-2011, 09:51 AM	#3
FF2® Believes Sloppy Guy was involved JetsInsider.com Legend Join Date: Mar 2005 Posts: 46,102	[QUOTE=southparkcpa;4051877]This will go no where...the "civil service" dominated country who ALL have a close family member collecting a government pension or disability at age 50 or less see nothing wrong with it.[/QUOTE] Interesting. Tell us more about this please.

06-23-2011, 12:44 PM	#4
quantum GFY Snatchez! Hall Of Fame Join Date: Nov 2004 Location: LI Posts: 17,877	New rules are needed, but you can't pay govt employees sub-market wages, no pension AND healthcare options like you'd find in a corporation.

06-23-2011, 12:52 PM	#5
Jetdawgg All Pro Join Date: Aug 2004 Posts: 6,687	[QUOTE=southparkcpa;4051877]This will go no where...the "civil service" dominated country who ALL have a close family member collecting a government pension or disability at age 50 or less see nothing wrong with it. There is NO industry that could survive under this business model. NONE.[/QUOTE] [IMG]http://4.bp.blogspot.com/-yYFPBI1EIQU/TZ5GxER9kcI/AAAAAAAAARY/LKyWwCN84Fc/s1600/Broke-Uncle-Sam.jpg[/IMG]