Coincidence? Obama chooses Chicago for his library same day city downgraded to junk bond rating
Coincidence? Perhaps not. Although Chicago's credit rating has been dropping for several years because of unfunded pension obligations, this latest downgrade is tied to Friday's unanimous Illinois Supreme Court ruling that threw out the state's 2013 pension reform law. Illinois' pensions are unfunded by a staggering $111 billion. And that rot festered during the eight years Obama was a state senator.
Obama is just so smart. Why didn't he say anything?
Oh, don't forget, Obama's first chief of staff, Rahm Emanuel, is mayor of Chicago now.
Related post:
IL Supreme Court makes it official: Pat Quinn was not put on earth to fix state's pension crisis
---------------
John Ruberry (@Marathonpundit) is a conservative reporter who hails from Morton Grove, IL. He also blogs at Marathon Pundit which you should follow for the straight scoop in Illinois politics.
Tags: Chicago, Obama Presidential Library, Moody, downgrades Chicago, credit rating, bonds, junk bonds, To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. and "Like" Facebook Page - Thanks!
Posted by Bill Smith at 4:00 PM - Post Link
0 Comments:
Post a Comment
<< Home