Illinois runs out of OPM

[Con Reeder, unhyphenated American]

Apparently Illinois Democrats passed a more generous budget than they
could get Republican buy-in for, and decided to fund this with a 5
billion dollar (they hope) tax increase. With the help of 15
Republicans, they appear to have overridden the governor's veto. This
seems to have not much impressed Moody's or S&P, who state that they
don't believe Illinois is taking the steps necessary to deal with
their huge debt and unfunded liabilities.

Iowahawk put it succinctly:

Crack addict's bold new plan to rob more liquor stores fails to
impress local dealers

Illinois residents are living in interesting times. I think they
are going to run into Stein's law: When something can't go on
forever, it won't.

--
I don't want to get to the end of my life and find I have just
lived the length of it. I want to have lived the width of it as
well. -- Diane Ackerman

[Some dued]

Its Illinois and Illinoians(?), where are these "Other People"?

[darkst...@gmail.com]

Then I would suggest you get your buddy Trump to get the Feds he threatened in there...

Mike

[Con Reeder, unhyphenated American]

On 2017-07-06, Some dued <theodo...@gmail.com> wrote:
> Its Illinois and Illinoians(?), where are these "Other People"?

It's called the bond market.

--
People who would hamper free speech always assume that they're designing
a world in which only their enemies will have to shut up.
--Nicholas Christakis

[michael anderson]

On Wednesday, July 5, 2017 at 8:45:34 PM UTC-5, Con Reeder, unhyphenated American wrote:
> Apparently Illinois Democrats passed a more generous budget than they
> could get Republican buy-in for, and decided to fund this with a 5
> billion dollar (they hope) tax increase. With the help of 15
> Republicans, they appear to have overridden the governor's veto. This
> seems to have not much impressed Moody's or S&P, who state that they
> don't believe Illinois is taking the steps necessary to deal with
> their huge debt and unfunded liabilities.
>
> Iowahawk put it succinctly:
>
> Crack addict's bold new plan to rob more liquor stores fails to
> impress local dealers
>
> Illinois residents are living in interesting times. I think they
> are going to run into Stein's law: When something can't go on
> forever, it won't.

well, the reality is though we've heard this for the last decade or more concerning Illinois....and over all that time the checks have kept flowing. So who's laughing?(all the way to the bank)

[Some dued]

On Thursday, July 6, 2017 at 6:46:16 AM UTC-5, Con Reeder, unhyphenated American wrote:

> On 2017-07-06, Some dued wrote:
> > Its Illinois and Illinoians(?), where are these "Other People"?
>
> It's called the bond market.

Good point.
Redirect: Why do you hate capitalism?

[Con Reeder, unhyphenated American]

On 2017-07-06, michael anderson <miande...@gmail.com> wrote:
> On Wednesday, July 5, 2017 at 8:45:34 PM UTC-5, Con Reeder, unhyphenated American wrote:
>> Apparently Illinois Democrats passed a more generous budget than they
>> could get Republican buy-in for, and decided to fund this with a 5
>> billion dollar (they hope) tax increase. With the help of 15
>> Republicans, they appear to have overridden the governor's veto. This
>> seems to have not much impressed Moody's or S&P, who state that they
>> don't believe Illinois is taking the steps necessary to deal with
>> their huge debt and unfunded liabilities.
>>
>> Iowahawk put it succinctly:
>>
>> Crack addict's bold new plan to rob more liquor stores fails to
>> impress local dealers
>>
>> Illinois residents are living in interesting times. I think they
>> are going to run into Stein's law: When something can't go on
>> forever, it won't.
>
> well, the reality is though we've heard this for the last decade or
> more concerning Illinois....and over all that time the checks have
> kept flowing. So who's laughing?(all the way to the bank)

No, they haven't kept flowing. Huge numbers of creditors have been
waiting, often for years, to be paid. I waited two years to receive
a large check from them.

--
Bad times have a scientific value. These are occasions a good learner
would not miss. -- Ralph Waldo Emerson

[michael anderson]

Im not talking about the people like yourself who actually deserve to be paid for services performed. I'm talking about the endless number of overpaid state retirees....their checks definately HAVE kept rolling in this last decade, and they sure as heck have enjoyed cashing them.

When the checks to the state retirees stop, then I'll know that something has definately happened....Im not holding my breath.

[Con Reeder, unhyphenated American]

That'll happen too, soon enough, when the interest rates get higher
and more wealthy people move out in response to the ever-increasing
taxes. One might see why you'd suffer California-level taxation to
live there, or even New York City, but Illinois?

> When the checks to the state retirees stop, then I'll know that
> something has definately happened....Im not holding my breath.

It is inevitable. "How did you go bankrupt?", he asked. "Two ways.
Gradually, then suddenly." We're in the gradually phase, but the second
will come.

--
An amateur practices until he gets it right. A pro
practices until he can't get it wrong. -- unknown

[michael anderson]

eh...ive been hearing it for awhile, and the checks keep getting cashed.

>
> > When the checks to the state retirees stop, then I'll know that
> > something has definately happened....Im not holding my breath.
>
> It is inevitable. "How did you go bankrupt?", he asked. "Two ways.
> Gradually, then suddenly." We're in the gradually phase, but the second
> will come.

when the bloated govt checks to paper pushers stop getting cashed, I'll believe it. Until then.....

[Some dued]

Why would Illinois not honor the deal they made with retirees who spent much of their life working for Illinois l, thereby fulfilling their end of the bargain?
Ask Hugh about it.

[Ken Olson]

Why retirement benefits should be fully funded.

[Ken Olson]

On 7/6/2017 3:11 PM, Some dued wrote:
> Why would Illinois not honor the deal they made with retirees who spent much of their life working for Illinois l, thereby fulfilling their end of the bargain?
> Ask Hugh about it.
>

We agree on this issue. Companies that offer DB pensions should, along
with municipal pensions, be required to maintain these accounts as fully
funded.

[Con Reeder, unhyphenated American]

It would be nice if they did that, but they don't. And I don't see
that taxpayers from another state should be on the hook, nor even
that other taxpayers in the same state should be on the hook. The
employees of the state of Illinois knew, or should have known, that
the promises they were receiving were ridiculous. Their unions fought
tooth and nail against making what were needed concessions. The
people they represent reaped the benefit of that, now they should
reap the whirlwind. They should get the same sort of protection that
the PBG provides.

Detroit city employees paid a good chunk, though not nearly as
much as I thought they should have. I paid a big chunk -- stolen
by Obama -- as he gave my retirement (bonds) to the unions. Why should
government protect state employees retirement and not mine?

--
One conclusion should be obvious: If nations such as Indonesia,
Bangladesh and Thailand can not make themselves inoffensive to Militant
Islamism there is no way that the United States could perform such a
feat, no matter which policies we changed or how much our public
diplomacy improved. -- Clifford May

[darkst...@gmail.com]

Because capitalism at least halves the population of this country.

Mike

[agavi...@gmail.com]

This is capitalism. If they don't fix it, the bond rates are going to reduce their status making it harder to sell bonds which makes it harder to raise funds which makes it harder for hem to rip off more people.

[Some dued]

In capitalism people lose money, its the risk of loss that drives interest rates.

[J. Hugh Sullivan]

I think it's Obama's fault. He reached his Peter Principle at
Community Organizer.

Hugh


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[J. Hugh Sullivan]

On Thu, 06 Jul 2017 17:48:26 -0500, "Con Reeder, unhyphenated
American" <cons...@duxmail.com> wrote:

>It would be nice if they did that, but they don't. And I don't see
>that taxpayers from another state should be on the hook, nor even
>that other taxpayers in the same state should be on the hook. The
>employees of the state of Illinois knew, or should have known, that
>the promises they were receiving were ridiculous. Their unions fought
>tooth and nail against making what were needed concessions. The
>people they represent reaped the benefit of that, now they should
>reap the whirlwind. They should get the same sort of protection that
>the PBG provides.

The people of the state elected people to represent them. Whether they
were stupid has no bearing on whether a bona fide contract should be
honored until they find a way to cure stupid.

The same is true on a national level. This country is in the process
of curing the prior election of a socialist half breed (the stupids
won). But there may be too many socialist stupids (that's code for
incompetents) for the effort to succeed.

[J. Hugh Sullivan]

On Fri, 7 Jul 2017 03:57:40 -0700 (PDT), "the_andr...@yahoo.com"
<agavi...@gmail.com> wrote:

>This is capitalism. If they don't fix it, the bond rates are going to reduce their status making it harder to sell bonds which makes it harder to raise funds which makes it harder for hem to rip off more people.

The problem is that liberals believe the state's problem is the
country's problem, not just the problem of the irresponsible people
who created it.

That's why they hate being called socialists. It's a derogatory term
for people who can't compete without legislated equality.

[Con Reeder, unhyphenated American]

You have more patience than I. I have pretty much stopped replying
to such economic ignorance. They don't seem to learn.

--
People who want to share their religious views with you
almost never want you to share yours with them. -- Dave Barry

[irishra...@gmail.com]

On Wednesday, July 5, 2017 at 11:57:54 PM UTC-4, darkst...@gmail.com wrote:
> Then I would suggest you get your buddy Trump to get the Feds he threatened in there...
>
> Mike

Democrat Chicago Mayor Rahm Emanuel, says he does not want or need
any help from President Trump or the Republicans. The fact that Chicago is broke, hopelessly in debt and
has become the murder capital of America does not prove Rahm's administration is incompetent or
as crooked as a crook screw. Hell, Chicago only had 100 people shot, and only 15 of those died, over the 4th of July weekend.

Irish Mike

[Emperor Wonko the Sane]

How so?

Doug

[plai...@gmail.com]

Hugh, what's wrong with being a half breed?

[Futbol Phan]

On Friday, July 7, 2017 at 8:10:35 AM UTC-5, irishra...@gmail.com wrote:

> Democrat Chicago Mayor Rahm Emanuel, says he does not want or need
> any help from President Trump or the Republicans.

Hell, Chicago only had 100 people shot, and only 15 of those died, over the 4th of July weekend.

Maybe it could be that Rahm doesn't believe that more guns are the answer. Trump will need to 'help' some other way.

[michael anderson]

Chicago needs fewer guns on the street(by people who are legally allowed to have guns) about as much as the new England patriots need a new coach and qb heading into this year.

[Michael Press]

In article <slrnolv0ep.p...@kim.perusion.com>,

"Con Reeder, unhyphenated American" <cons...@duxmail.com> wrote:

> On 2017-07-07, the_andr...@yahoo.com <agavi...@gmail.com> wrote:
> > This is capitalism. If they don't fix it, the bond rates are going
> > to reduce their status making it harder to sell bonds which makes
> > it harder to raise funds which makes it harder for hem to rip off
> > more people.
>
> You have more patience than I. I have pretty much stopped replying
> to such economic ignorance. They don't seem to learn.

Have to reply. You need a new playbook.

--
Michael Press

[J. Hugh Sullivan]

On Fri, 7 Jul 2017 08:43:15 -0700 (PDT), plai...@gmail.com wrote:

>Hugh, what's wrong with being a half breed?
>

>---
>This email has been checked for viruses by AVG.
>http://www.avg.com

Where did I say something is wrong with being a half breed?

Whether or not I approve has nothing to do with rights. Most of us are
a small percentage Neanderthal but not Denisovan. Scientists say we
all descend from an African mother. That's why African-American is
such a meaningless term.

Obama is mixed race - half white and half black - a certifiable half
breed based generally, but ungenealogically, on his parents.

Instead of acknowledging his mixed race he called himself black. Thus
he must have thought there is something wrong with being a half breed.
His purpose in lying IMO was to gain votes from blacks and sympathetic
liberals. I suppose that's the origin of "whatever it takes".

Hugh

[J. Hugh Sullivan]

On Fri, 07 Jul 2017 11:44:30 -0700, Michael Press <rub...@pacbell.net>
wrote:

In my case I started as an educator. Being retired I have the time to
continue the attempt. Despite the best efforts of numerous real
Americans liberals remain untrainable.

Like the wild goose that flies in ever-decreasing circles, liberals
will one day cause all of us to disappear up our own ass.

Hugh

[J. Hugh Sullivan]

From Wikipedia, the free encyclopedia...
Gun laws in Illinois regulate the sale, possession, and use of
firearms and ammunition in the state of Illinois in the United States.
To legally possess firearms or ammunition, Illinois residents must
have a Firearm Owners Identification (FOID) card, which is issued by
the Illinois State Police to any qualified applicant.

Illinois is not your best example of why gun control laws might work.

How much gun control would be required to stop darkstar?

[Ken Olson]

Depends on how far away he is.

[darkst...@gmail.com]

On Friday, July 7, 2017 at 5:39:45 AM UTC-7, J. Hugh Sullivan wrote:
> On Fri, 7 Jul 2017 03:57:40 -0700 (PDT), "the_andr...@yahoo.com"
> <agavi...@gmail.com> wrote:
>
> >This is capitalism. If they don't fix it, the bond rates are going to reduce their status making it harder to sell bonds which makes it harder to raise funds which makes it harder for hem to rip off more people.
>
> The problem is that liberals believe the state's problem is the
> country's problem, not just the problem of the irresponsible people
> who created it.

It will be, one way or the other.

It's either that way in a natural sense, or in a sense of what happens when a large enough number of people in any society HAVE TO die.

This country is fucked, Hugh -- and it's people like you who did it.

Mike

[darkst...@gmail.com]

I think Trump's implication here is that Emanuel does not get a say in this discussion.

I would assert the very real possibility, if Trump ever comes through on the threat, of actual Martial Law in the city.

Mike (Or, as some of us would surmise, a test case...)

[J. Hugh Sullivan]

On Sat, 8 Jul 2017 16:16:24 -0700 (PDT), darkst...@gmail.com wrote:

>This country is fucked, Hugh -- and it's people like you who did it.
>
>Mike

If I was your daddy I would have to agree.

[Ken Olson]

People that served their country and community honorably and were
gainfully employed for decades in their chosen field?

[J. Hugh Sullivan]

On Sun, 9 Jul 2017 22:15:44 -0400, Ken Olson <kol...@freedomnet.org>
wrote:

There is considerable evidence that he is not that far along in school
yet.