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

  1. #1

    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

  2. #2
    [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.

  3. #3
    [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.

  4. #4
    Jets Insider VIP
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    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.

  5. #5
    [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]

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