On this particular episode of” Chicago Mayors Say the Strangest Things.” Following the closure of four Walmart locations and a Whole Foods, Chicago Mayor Brandon Johnson stated that he wants to open city-owned grocery stores to serve areas that have turned into” food deserts.” It was effective in the USSR. It was effective in Cuba. It was effective in Venezuela. In Chicago, it will undoubtedly succeed. There won’t be anything in those stores left five minutes after they open because Illinois only eliminated bail and Johnson took office to defend criminals. It’s a great thing Chicago has extra money that it can use to fund such crazy plans. As mayor of Chicago, Brandon Johnson made one of his first moves to buy himself some time to address the city’s biggest financial issue — the more than$ 35 billion in pension debt.
Johnson promised to form a working group to come up with solutions by October and persuaded state lawmakers to shelve legislation that would have increased the pension debt by billions only days after his May inauguration.
The democratic Democrat’s time to end the worst pension crisis in big American cities is now running out. Johnson’s former union, CTU, assisted in piling up more unfunded pension debt. Johnson’s personal extremely greedy Chicago Teachers Union is largely responsible for that. Older teachers are anticipated to earn six figures this year following their 2019 strike. After five years, CTU members will earn$ 84, 313, which increases to almost$ 100,000 after ten years of non-teaching children. CTU is never just killing children, but it is also destroying the city’s future.
With a” pension holiday ,” CTU abused its political influence to rob its own members of their pensions. Then, without having to comply with the Property Tax Extension Limitation Law, it imposed an additional special property tax to pay for its benefits. Chicago property taxes have doubled in the past ten years, and CTU’s pensions are however$ 13 billion underfunded, more than ever. Pensions will receive those taxes. The third-largest U.S. city already spends about$ 1 out of every$ 5 on pensions, with more than 80 % of property tax dollars going toward retirement benefits. From that, things only get worse. Additionally, the city has an unfunded pension liability of$ 150 billion, or almost$ 150 000 per household in Chicago. But what then? Simply declare bankruptcy. Only 21 % of Chicagoans support raising taxes to pay the city’s debts, according to a new poll conducted earlier this month by the Chicago-based polling company Ogden and Fry. More than 36 % of respondents favor restructuring its debt through bankruptcy. and after that, open more government-run grocery stores that are empty.
On this episode of “Chicago Mayors Say the Darndest Things”.Chicago Mayor Brandon Johnson stated that he wants to build city-owned grocery shops to serve neighborhoods which have become “food deserts” after four Walmart stores, and a Whole Foods store closed. It worked in Cuba. It worked in Venezuela. It will work in Chicago. Since Illinois just eliminated bail, and Johnson came into the office to defend criminals there won’t be anything left in those stores 5 minutes after the store opens.
Johnson convinced state lawmakers just days after his inauguration in May to drop legislation that would have added billions of dollars to the pension debt. He also promised to set up a working group by October to come up solutions.
Johnson’s notoriously greedy Chicago Teachers Union is responsible for a large part of the debt. Senior teachers will make six figures after their 2019 strike. After five years, CTU members can expect to earn $84,313, which will rise to almost $100,000 after 10 years. CTU does not only destroy children, it also destroys the future of the city.
CTU used its political power by imposing a ‘pension tax’ to steal the pensions of their own members. They then imposed a property tax to subsidize their pensions, without having to go through Property Tax Extension Limitation Law. Chicago property taxes have more than doubled over the past decade. CTU pensions are also more underfunded than they’ve ever been, at $13 billion. These taxes are going towards pensions. Already, the third largest U.S. City spends about $1 of every $5 in pensions. More than 80 percent of the property-tax dollars are used to pay for retirement payouts. The new poll, conducted by Chicago-based polling company Ogden and Fry earlier this month, found that only 21% of Chicagoans supported raising taxes to pay for the city’s debts. Over 36 percent of respondents support bankruptcy as a way to restructure the city’s debt. And then open more government supermarkets that have nothing inside.
