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3 more Lib cities for file Bankruptcy?


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3 huge cities flirting with bankruptcy

Staggering under pension obligations and debt, any of these could follow Detroit into court.


New York City

When adjusted for population, New York owes $20 billion more for retiree health care than Detroit, or a total of $88.2 billion.

On top of those obligations, the Big Apple owed pensioners $69.9 billion more than it set aside as of last year's annual report. Again, adjusted for population, that's $28 billion more than Detroit owes.

Chicago

The Windy City may be closer to bankruptcy than New York. Fitch Ratings recently downgraded the city three notches because of pension liabilities for its 30,000 retired workers and a struggling economy.

Makes perfect sense when you consider that Chicago's four pension systems -- for police, firefighters, laborers and municipal workers -- were short by $19.5 billion at the end of 2012. That does not include the ailing pension fund for Chicago teachers, which had its own $8 billion shortfall at the end of the last fiscal year.

Los Angeles

When former Los Angeles Mayor Richard Riordan gazed into his crystal ball in 2010, he told the Wall Street Journal, "Los Angeles is facing a terminal fiscal crisis: Between now and 2014 the city will likely declare bankruptcy."

The tremendous growth in payouts for retirement benefits over the years certainly lends merit to his prophecy. According to Stanford Institute for Economic Policy Research, pension costs in L.A. increased from 8.5 percent of total city expenditures in 1999 to 15.4 percent for fiscal 2012.

Stanford's study also estimated that each of the city's three independent pension funds is unfunded by billions of dollars: the city of Los Angeles Fire and Police Pension System is $9.25 billion unfunded; the Los Angeles City Employees Retirement System is $11.32 billion unfunded; and the city of Los Angeles Water and Power Employees Retirement System is $6.59 billion unfunded.

http://money.msn.com/investing/post--3-huge-cities-flirting-with-bankruptcy

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that is how libloons and their unions roll...

 

wait until 40% of the population are illegal invaders paying zero taxes...

 

property taxes... here we go...

 

but first calif prop 13's gotta go then they can raise property taxes all they want

 

woopee

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3 huge cities flirting with bankruptcy

 

Staggering under pension obligations and debt, any of these could follow Detroit into court.

 

 

New York City

 

When adjusted for population, New York owes $20 billion more for retiree health care than Detroit, or a total of $88.2 billion.

 

On top of those obligations, the Big Apple owed pensioners $69.9 billion more than it set aside as of last year's annual report. Again, adjusted for population, that's $28 billion more than Detroit owes.

 

Chicago

 

The Windy City may be closer to bankruptcy than New York. Fitch Ratings recently downgraded the city three notches because of pension liabilities for its 30,000 retired workers and a struggling economy.

 

Makes perfect sense when you consider that Chicago's four pension systems -- for police, firefighters, laborers and municipal workers -- were short by $19.5 billion at the end of 2012. That does not include the ailing pension fund for Chicago teachers, which had its own $8 billion shortfall at the end of the last fiscal year.

 

Los Angeles

 

When former Los Angeles Mayor Richard Riordan gazed into his crystal ball in 2010, he told the Wall Street Journal, "Los Angeles is facing a terminal fiscal crisis: Between now and 2014 the city will likely declare bankruptcy."

 

The tremendous growth in payouts for retirement benefits over the years certainly lends merit to his prophecy. According to Stanford Institute for Economic Policy Research, pension costs in L.A. increased from 8.5 percent of total city expenditures in 1999 to 15.4 percent for fiscal 2012.

 

Stanford's study also estimated that each of the city's three independent pension funds is unfunded by billions of dollars: the city of Los Angeles Fire and Police Pension System is $9.25 billion unfunded; the Los Angeles City Employees Retirement System is $11.32 billion unfunded; and the city of Los Angeles Water and Power Employees Retirement System is $6.59 billion unfunded.

 

http://money.msn.com/investing/post--3-huge-cities-flirting-with-bankruptcy

 

Up until a few months ago Bloomberg who spent most of his life as a Republican was the mayor of NYC.

 

The red states are the parasite states and the blue states are the giver states.

 

L84kQ.png

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When Bush's banksters raided pensions and drained nearly 1 trillion from Americans it is a miracle that there are not more cities in financial crisis.

 

I doubt is any of you cons can look at the chart and connect the dots.

 

450px-Productivity_and_Real_Median_Famil

 

American workers are more productive and the corporate gangs are taking even more.


The blue states are the bankrupt states and I blow boys.

 

Name a state that has filed for chapter 9 liar. No US state in currently in bankruptcy.

 

PovertyByState.jpg

When it comes to poverty the parasite red states win by a landslide.

 

Rebublicans are stupid and lazy!

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Up until a few months ago Bloomberg who spent most of his life as a Republican was the mayor of NYC.

 

The red states are the parasite states and the blue states are the giver states.

 

L84kQ.png

LMFAO

How about the fed just leave the money in their respective states. That way, none will be "donor" nor "takers".

I know, I know, "the fed has to dole out the states money because everyone but the fed is to stupid to know how to spend their own money". :)

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obesity%20by%20state%20map.jpg


LMFAO

How about the fed just leave the money in their respective states. That way, none will be "donor" nor "takers".

I know, I know, "the fed has to dole out the states money because everyone but the fed is to stupid to know how to spend their own money". :)

 

The red state trash Republicans don't want to get off the gravy train.

 

The Red states are welfare states. The moron inbred Republican can't and won't pull their weight and pay their frieght. We libs tend to be too charitable at times but we know that the typical Southerner can't/won't pull himself up by their boot strap but some body has to feed all their bastard children of the Christian slut mothers.

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The red state trash Republicans don't want to get off the gravy train.

 

The Red states are welfare states. The moron inbred Republican can't and won't pull their weight and pay their frieght. We libs tend to be too charitable at times but we know that the typical Southerner can't/won't pull himself up by their boot strap but some body has to feed all their bastard children of the Christian slut mothers.

Yet, in the real world, it's liberal cities sinking to the bottom of the abyss......dragged down by the weight of unaffordable pension schemes.

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As Messiah said.. no bankrupt states but they shell out tax dollars to the red states and take less

yet its the left that doesnt want the states to keep more "in state"

 

why do they need the fed to dish it out for them ?

 

why dont we just repeal the income tax all together ?

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Yet, in the real world, it's liberal cities sinking to the bottom of the abyss......dragged down by the weight of unaffordable pension schemes.

 

When the blue states give and give and give to the hapless Red States bad things happen. So far liar, none of the cities you mentioned filed for bankruptcy.

 

image.jpg

NY has a liberal Dem as governor and NJ has a big fat lying criminal Republican Governor.

 

MetroAreaGDP.png

 

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Commie mayor of NY will force wealthy to leave. Slowly but surely rich are buying property in Fla. and other low tax states. As wealth leaves income to the state/city decreases. Wealthy in NY support museums and give away hundreds of millions. This will slowly dry up. This is obvious to some but libs don't quite get it. I wonder how the rich libs feel about the mayor going after them when they pay for everything anyway. Electing this mayor in NY could be the death knell for the city.

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When Bush's banksters raided pensions and drained nearly 1 trillion from Americans it is a miracle that there are not more cities in financial crisis.

 

I doubt is any of you cons can look at the chart and connect the dots.

 

450px-Productivity_and_Real_Median_Famil

 

Are you seriously claiming that Americans' incomes barely rose since 1983 during a 25-year economic boom, longest in recorded US history?

 

Come on, you're kidding, right? :D

 

Anyone with the slightest knowledge about such matters would reject that out of hand.

 

 

 

American workers are more productive and the corporate gangs are taking even more.

 

Then stop voting for mostly Democrats who advocate such policies. :glare:

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Wow! The Messiah has come to ram the truth up con's asses, and they are scattering like roaches in the kitchen when you turn the light on!

 

The cognitive dissonance leaves them muttering to themselves and spitting out gibberish!

 

FACTS are very scary things to these Neanderthals! Pesky facts!

 

The Messiah has come to play hardball and win! That's something the other pretendo libs here never did.

 

Rich Clam, the house facsist parrot, will have to go into hiding again. Information overload! :P


 

Are you seriously claiming that Americans' incomes barely rose since 1983 during a 25-year economic boom, longest in recorded US history?

 

Come on, you're kidding, right? :D

 

Anyone with the slightest knowledge about such matters would reject that out of hand.

 

 

 

 

Then stop voting for mostly Democrats who advocate such policies. :glare:

Rich Clam. Home of the WHOPPER!

 

You're going to have to dig up new material, Rich, the old lies don't work anymore!

 

Paid poster? Of course! :glare:

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YOU'RE RACIST FOR POINTING THIS OUT !

 

ghetto.jpg

 

Democrats were racist for creating this.

 

Democrats offered health care, welfare and housing projects to draw people from rural areas to the big cities that are now a Poverty Plantation where the poverty people must vote for Democrats to get the health care and welfare they need to survive.

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The bush depression has been hard on cities .

 

 

Man you are The Messiah.. 54 posts and you have really kicked some conservative ass

 

The red states really are obese aren't they??? in more ways than one

 

If the red states are so good why are the main cities of the red states the ones that are going bankrupt.

 

Figures don't lie but liars can figure.

 

Did Messiah just lose his job at the Global Warming Institute?

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Whats his name? You know, ran for president?

 

The Twitt that parks his money offshore and don't pay No outlandish taxes, you know the Repuke way. Keep theirs and let the poor folks pay for me.

 

Hypocrites all.

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Been throwing trillions in welfare at the inner-shitties for 50+ years. LBJ's great society, FDR's new deal, the fair deal and square deal, expansion of social security into disability without the need to pay into the system and Obamacare STEALING 700 Billion from Medicare and giving it to Obamacare. Most people today are signing up for FREE healthcare via medicaid, not signing up to pay for Obamacare.

 

Liberals rob Peter to pay Paul for womb to tomb benefits and more votes everyday. The math doesn't add up and now it's catching up. The laws of economics cannot be circumvented. We will look like Greece, Argentina or Iceland soon thanks to the leftists dream of a welfare state. Do yourselves a favor and export yourself offshore now while you still can. The US is getting ready to financially crumble.

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