re: #92 Obdicut

When you can’t make the payments on your debt or your other obligations it’s called being bankrupt. The money for the pensions hasn’t already been spent because it was never there. Their pensions were based on promises that should never have been made and can’t possibly be paid for. What you’re asking is that the rest of the nation, people who don’t have the money, to pay for exorbitant retirement funds. It’s not going to happen. They wrote checks their asses couldn’t cash.

Chicago is well on its way to bankruptcy and it’s not alone. It does remind me of this story from Illinois earlier this year though:

Teacher pension millionaires
politifi.com

The pension fund scandal is like a slow-motion train wreck.