Latest Post | Last 10 Posts | Archives
Previous Post: *** UPDATED x1 *** Dem claims Rauner spending million more than Quinn on office
Next Post: The Key to Lowering Workers’ Compensation Costs is Insurance Transparency and Oversight
Posted in:
* Subscribers know more…
Mayor Rahm Emanuel is seeking to put off a massive teacher pension payment that’s due at the end of the month until Aug. 10 under a measure that surfaced Tuesday in the Illinois House.
The request for a delay comes after a series of internal Chicago Public Schools reports indicated that even if the school district drained its checking account, maxed out its credit card and burned cash set aside for other debts, it still would not be able to make the pension payment of more than $600 million, cover payroll and pay all the other due bills.
“We’re disappointed,” said Charles Burbridge, executive director of the Chicago Teachers’ Pension Fund. “We were expecting full payment next week as required by state statute. . . . It’s unfortunate that they’re in a position where they need to ask for this delay.”
But Burbridge said he was pleased that the amendment, introduced by House Majority Leader Barbara Flynn Currie, D-Chicago, would not reduce the size of the payment CPS is required to make to restore the pension fund to financial soundness.
The bill is here.
…Adding… The train, as usual with these things, is moving fast. The amendment has been assigned to House Executive Committee, which starts at 11:15.
…Adding More.. Greg Hinz rather cleverly ties the school deal to the DCEO privatization bill that I told subscribers about this morning…
A Rauner sign-on would be rather interesting, given that the governor previously has seemed to be pushing to have CPS reorganize its affairs in bankruptcy.
But that may explain a second bit of action today. Madigan has agreed to call for a final vote a bill to partially privatize the Illinois Department of Commerce and Economic Opportunity, which Rauner has been pushing for pretty hard.
If the DCEO measure and the CPS bill pass, every side will get something. That’s the kind of stuff that bigger deals are made of.
…Adding… The bill passed Exec 8-2.
*** UPDATE *** It looks from the roll call that Madigan pulled his targets off, and others were absent…
#ILHse rejects 40 day delay in Chicago Public Schools teacher pension payment that was due June 30, 53-47. Needed 71.
— Rick Pearson (@rap30) June 23, 2015
posted by Rich Miller
Tuesday, Jun 23, 15 @ 10:56 am
Sorry, comments are closed at this time.
Previous Post: *** UPDATED x1 *** Dem claims Rauner spending million more than Quinn on office
Next Post: The Key to Lowering Workers’ Compensation Costs is Insurance Transparency and Oversight
WordPress Mobile Edition available at alexking.org.
powered by WordPress.
No, we can’t put if off any longer.
Comment by Cheryl44 Tuesday, Jun 23, 15 @ 11:10 am
This is no longer a can being kicked - it has grown into the size of a silo.
Comment by VanillaMan Tuesday, Jun 23, 15 @ 11:12 am
I think this is a much better bill than SB 777. SB 777 felt rushed. This feels much better thought out and much more negotiated.
Comment by Team Sleep Tuesday, Jun 23, 15 @ 11:15 am
Burbridge is talking nicer than I would in his shoes.
How about-this is really crazy.
Comment by Cassandra Tuesday, Jun 23, 15 @ 11:20 am
Pay it now, or pay more later, but either way, we’re going to have to pay.
This must be what it feels like to be in hock to a loan shark. The vig keeps adding up week after week, and sooner or later somebody is going to come to collect.
Comment by 47th Ward Tuesday, Jun 23, 15 @ 11:28 am
And “taxpayers” will blame those teachers for the massive debt. Duh.
Comment by AnonymousOne Tuesday, Jun 23, 15 @ 11:33 am
WWCD!!!!! what would chuey do??? LOL
Comment by Not Rich Tuesday, Jun 23, 15 @ 11:35 am
===Pay it now, or pay more later, but either way, we’re going to have to pay.===
The ‘pay it later’ options normally means paying more later. There are two basic ways this works if you do not pay it now. First, CPS can barrow money to make the payment and pay interest on the loan. The second option is for CPS of pay the amount due later along with an extra payment to make up for the interest the pension plan would have earned if the original payment had been made on time. Either way, the taxpayers will pay more in the end.
For my money, I would make pension payment on time and put off paying part or all of the other amounts due.
Comment by Hit or Miss Tuesday, Jun 23, 15 @ 11:38 am
Same as it ever was — the one thing the GA and every governor and mayor ever can always agree on is kicking the can down the road.
No gravitas or shake it up in sight.
Comment by Wordslinger Tuesday, Jun 23, 15 @ 11:52 am
Another pension holiday. Is there in a contest in Springfield for who can kick the can farthest?
Comment by Allen Skillicorn Tuesday, Jun 23, 15 @ 11:58 am
=WWCD!!!!! what would chuey do??? LOL=
This is why they elected Rahm. It’s his brilliant financial acumen.
Comment by Carhartt Representative Tuesday, Jun 23, 15 @ 11:59 am
Not Surprised. Now, we just need a bill to stiff the toxic swap merchants and CPS will be up another $228 million.
Comment by Arthur Andersen Tuesday, Jun 23, 15 @ 12:00 pm
===For my money, I would make pension payment on time and put off paying part or all of the other amounts due. ===
What, like teacher salaries?
That makes perfect sense.
Comment by Rich Miller Tuesday, Jun 23, 15 @ 12:00 pm
=Another pension holiday. Is there in a contest in Springfield for who can kick the can farthest?=
I don’t advocate pension holidays, but a 40 day extension really isn’t in the running for furthest can kick.
Comment by Carhartt Representative Tuesday, Jun 23, 15 @ 12:01 pm
These types of bad decisions are what put Chicago in this position in the first place. No more delay. It’s time to pay the piper Illinois. Suck it up and lets get serious!!
Comment by Union Man Tuesday, Jun 23, 15 @ 12:28 pm
While undeniably not ideal, isn’t this a sign that both side envision on a real budget/fix on the horizon?
Comment by Centennial Tuesday, Jun 23, 15 @ 12:55 pm
How much interest would have been accrued during those 40 days? It’s not insignificant with such a large payment. This underfunded pension need every dime earning income.
Comment by Allen Skillicorn Tuesday, Jun 23, 15 @ 12:56 pm
Anyone know what the “VIG” is on missed payment of that size?
Comment by 13thone Tuesday, Jun 23, 15 @ 12:59 pm
Is anyone but me thinking that this particular date is primarily a way of “doubling down” on the already huge significance of the first school aid payment out of the FY’16 budget, which doesn’t exist?
Comment by steve schnorf Tuesday, Jun 23, 15 @ 1:08 pm
Is anyone thinking of bonding out the amount and paying much less “more later” than would be owed otherwise, since pension investments accrue at somewhere north of 7.5% or thereabouts, whereas bond interest is much less?
Comment by PublicServant Tuesday, Jun 23, 15 @ 1:20 pm
So our next doomsday deadline will not be July 1,
July 14 (there will be some kind of deal to pay workers, don’t worry), but August 10.
Time for summer vacation for our political masters.
Comment by Cassandra Tuesday, Jun 23, 15 @ 1:36 pm
===whereas bond interest is much less?===
Have you checked CPS’ bond rating lately? It’s a notch below junk. it will be paying a hefty premium to borrow more money.
Comment by 47th Ward Tuesday, Jun 23, 15 @ 1:37 pm
CPS also gets property tax revenue in August, if the bills go out on time.
Comment by Christopher Ball Tuesday, Jun 23, 15 @ 1:40 pm
47th, hefty compared to investment accrual that will occur? Just wondering why, if the interest is less on bonding the payment or a portion there of, why is it not being considered?
Comment by PublicServant Tuesday, Jun 23, 15 @ 1:41 pm
===why is it not being considered? ===
Because you can’t skip bond payments.
Comment by Rich Miller Tuesday, Jun 23, 15 @ 1:42 pm
===Have you checked CPS’ bond rating lately? It’s a notch below junk===
Only Moody’s junked it. Fitch and S&P have it in investment grade territory still, barely, but there.
Comment by Christopher Ball Tuesday, Jun 23, 15 @ 2:12 pm
Just another sign the CPS and CPS pension plan are on the brink of disaster, without some real pension reform or increased revenue thru a property tax increase in Chicago.
Comment by Apocalypse Now Tuesday, Jun 23, 15 @ 2:12 pm
40 days is not really “kicking the can down the road”.
I get tired of people making the straw man argument about “families tightening their belts”. I think there is some truth to that - and I know that Mrs. Sleep and I do our best to tighten the belt when needed - but families and small businesses use “tricks” to get by just as much as government entities do. Families and business owners roll credit cards into one another, put off paying bills until due dates, “rearrange” finances to cover a shortfall and take advantage of windfalls (i.e. tax refunds, reimbursements, Great Aunt Flo’s passing). Most middle class families do some combination of those to ensure the lights stay on and the kids are fed.
CPS may suffer from underfunding and some mismanagement, but this is a good enough proposal with a HARD and almost immediate (at least for government) timeframe.
Comment by Team Sleep Tuesday, Jun 23, 15 @ 2:21 pm
DCEO bill is the important bill that will allow Rauner to have his wish for “Public equity” that will enrich his donors. Everything else is just distractions.
Comment by otherwise Tuesday, Jun 23, 15 @ 2:23 pm
Oops. The train is off the tracks.
Comment by Norseman Tuesday, Jun 23, 15 @ 2:28 pm
The telegraph boy is deliverying message to the mayor.
Comment by Norseman Tuesday, Jun 23, 15 @ 2:37 pm
Delivering
Comment by Norseman Tuesday, Jun 23, 15 @ 2:37 pm
From the Twitters..,
@rap30: #ILHse GOP leader Jim Durkin: “Our votes are not going to be taken for granted in the overttime session.” Will vote for CPS pension delay.
Hmm. I’ll be watching. I’m rooting for Caucus independence.
Wonder how an Emanuel and Rauner discussion after the bill failed would sound?
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 2:37 pm
Lol, CPS can’t raise taxes fast enough. The only solution is a reamortization of the pension payments. I personally would be fine if CPS defaulted on the pension payment. Might wake up the union dolts.
Comment by Tone Tuesday, Jun 23, 15 @ 2:43 pm
I have doubts as to whether CPS can make full payment on August 10, unless it uses the GSA funds Steve Schnorf correctly made note of. That will pretty much still leave CPS cashless. All the new property taxes being discussed will not generate any money for at least a year, so CPS would have to issue tax anticipation warrants on those property taxes dollars too.
Really what would be far more prudent would be to create a fiscal oversight body for CPS that would restructure the district’s debt. This happened in 1979 and needs to be discussed again. This piece meal approach to keeping CPS solvent just buys time and much more is needed.
Comment by Rod Tuesday, Jun 23, 15 @ 2:45 pm
That is one of the most interesting roll calls I’ve seen in a long time. Madigan pulled his targets, but was that before or after guys like Sandack voted no? It sure likes like the deal fell apart right just before the bell rang on this one.
Comment by 47th Ward Tuesday, Jun 23, 15 @ 2:50 pm
At this point the only answer appears to be bankruptcy. As Detroit showed, it will mean a hit to pension holders but the alternative looks to be checks bouncing down the road.
Comment by Anonymous Tuesday, Jun 23, 15 @ 2:51 pm
Opps Governor-Mayor “deal” not soup….Guess BVR needs to try harder….Come on TeamBungle get something right
Comment by Anonin' Tuesday, Jun 23, 15 @ 2:52 pm
Not even close. Weren’t there supposed to be a few more GOP votes on there if there was a deal with the governor for DCEO?
Comment by Wordslinger Tuesday, Jun 23, 15 @ 2:52 pm
- Anonin’ -, they couldn’t count to 60, now they can’t count to 71…
- Anonymous -, Chicago is not Detroit. Use the search key, please.
- 47th Ward -, when I saw Durkin “green” and The Owl “red”, and that Tweet by Pearson… I can only “guess” some Owls have different homing devices.
Can NOT wait to see the 67 “green” on the revenue increase and Rauner signing a budget with it.
Maybe this was the independent streak I’m looking for?
It’s half snark, ’cause the taking of the MJM targets off is another interesting twist to Caucus governing.
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 3:00 pm
===the taking of the MJM targets off is another interesting twist to Caucus governing===
It was more than the targets, Lang and Flowers were No votes too. Whatever this was fell apart either immediately before, or during, the vote.
Comment by 47th Ward Tuesday, Jun 23, 15 @ 3:04 pm
Thanks - 47th Ward -, good eyes. Appreciate it.
Strange roll call…
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 3:05 pm
This is the second time this has happened to a Madigan supported bill relating to payments to be made to the CTPF. It happened on May 31, 2013 when CPS then with the support of the Chicago Teachers Union, attempted to pass yet another pension holiday bill, Senate Bill 1920 House Floor Amendment One. The proposed legislation would have reduced CPS contributions to the pension fund to $350 million in 2014 (from $612.7 million) and $500 million in 2015 (from $631.5 million). The bill needed 60 votes to pass, but received only 39 votes
Comment by Rod Tuesday, Jun 23, 15 @ 3:07 pm
==At this point the only answer appears to be bankruptcy. As Detroit showed, it will mean a hit to pension holders==
If I remember right, bond holders in Detroit took a much bigger hit. For that reason alone, I don’t see the City of Chicago being allowed to declare bankruptcy. Besides, Illinois has no law authorizing Chicago or other large cities to file bankruptcy.
Comment by Joe M Tuesday, Jun 23, 15 @ 3:16 pm
Would not have reached the 71 threshold even with “target” votes. Madigan won’t push them unless they are critical. And even then, some could resist.
Comment by walker Tuesday, Jun 23, 15 @ 3:25 pm
Did the DCEO bill fail?
Comment by Honeybear Tuesday, Jun 23, 15 @ 3:26 pm
Joe we have been through this before, Rich did a number of posts on the bankruptcy provisions for local governmental bodies, it is not possible under existing law. Chapter 9 of the Bankruptcy Code requires State authorization for local governmental agencies to file for Chapter 9, Illinois lacks that authorization as you correctly note in your post. I agree with you.
The Governor has proposed changing our laws, but even some Republicans close to financial firms are opposed to the idea. Because those that hold the debt would take the hair cut. Democrats are opposed because of the likely consequences to municipal pension funds and to union contracts.
Right now there is not enough support for that part of the Governor’s turnaround plan to pass in my opinion, even as part of a larger revenue deal.
Comment by Rod Tuesday, Jun 23, 15 @ 3:29 pm
- walker -,
Isn’t it more “interesting” and telling how the GOP Caucus voted?
The Dem targets were, no doubt, pulled off once the other “red” votes were seen? Why hang a bad vote that fails on the targets?
Maybe, just maybe, thus might be the HGOP showin’ … “something”?
Hope this wasn’t a $&@#% problem vote, lol
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 3:30 pm
Honeybear, see:
=== Zach Bernard
@zachbernard29
HB 574 (Madigan), aiming to privatize DCEO w/ nine amendments to Rauner proposal, passes with majority on 60-8-34 vote. #twill ===
This was from Rich’s “Live” Post. It’s helpful knowing what’s going on in other places when you’re listening to one chamber or a committee.
Comment by Norseman Tuesday, Jun 23, 15 @ 3:45 pm
Am I reading this right that the DCEO PPP PASSED with the sunset provision of 3 years? If so this is a big olive branch to BVR right?
http://www.ilga.gov/legislation/BillStatus.asp?DocNum=574&GAID=13&DocTypeID=HB&LegId=85026&SessionID=88&GA=99
Comment by Honeybear Tuesday, Jun 23, 15 @ 3:45 pm
Pearson quoted Rep. Currie as saying this was a deal between Rahm and Rauner, or “those two entities” as she put it. Doesn’t that imply Madigan made no commitments on this and maybe sat this one out?
Doesn’t it also mean that Rauner couldn’t deliver as many HGOPs as he wants us to believe he can?
Rahm takes the loss, Rauner looks inept, the HGOPs look split and Madigan retains his place as the key to any deal. Work around him at your peril.
Is that the take-away?
Comment by 47th Ward Tuesday, Jun 23, 15 @ 3:46 pm
===Is that the take-away?===
That’s the train I’m on.
Very well laid out, BTW.
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 3:48 pm
Heard Flowers on the radio saying she voted “no” because no one talked to her, and she wanted to fund pensions by taxing suburbanites who work in the city.
Comment by phocion Tuesday, Jun 23, 15 @ 3:58 pm
To the defeat of the bill,
This coulda been an accidental “dry run” of that $&@#% problem vote total.
Durkin called it, Rauner needed it, Madigan preserved it’s necessity to Rauner IF Rauner plays the “going around” game.
Was MJM saying, “you give me 47, I’ll give you 70″?
Lang and Flowers as “red”, helps in the teaching?
The Owl as “red” and Durkin “green”, I’m putting a think on that…
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 3:59 pm
==It was more than the targets, Lang and Flowers were No votes too==
Then they were Yes votes on the DCEO bill.
Why would Madigan pull his votes off the CPS bill but not the DCEO bill? Why give Rahm a loss and then give Rauner a win?
Comment by Formerly Known As... Tuesday, Jun 23, 15 @ 4:01 pm
“Durkin called it” = the quote in Pearson’s tweet. Apologies.
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 4:02 pm
==Heard Flowers on the radio saying she voted “no” because no one talked to her==
It was surprising they ran the CPS bill so quickly today. Maybe it was just an error by Rahm or Madigan running the bill too quickly?
Comment by Formerly Known As... Tuesday, Jun 23, 15 @ 4:05 pm
Confusing day. Why was Durkin removed as chief co-sponsor from the DCEO bill? That seems odd to me and makes we think it’s related to the other oddities occuring today.
Comment by Honeybear Tuesday, Jun 23, 15 @ 4:18 pm
===It was surprising they ran the CPS bill so quickly today.===
I read in the paper that CPS is about to borrow $1.1 billion tomorrow. I’m pretty sure that’s why they needed this today. It’ll sail through the Senate, if it ever gets there, and maybe they could have borrowed a bit less tomorrow.
Flower’s “no one talked to me” bit is a hilariously weak excuse to take a walk. Hilarious because it is so transparently dishonest, and weak because really? You needed someone to speak to you about this bill when a bunch of commenters on a blog have it figured out? Why are you even in Springfield?
No one talked to me about it either, yet I knew what was at stake. C’mon.
Comment by 47th Ward Tuesday, Jun 23, 15 @ 4:19 pm
RE the DCEO bill, anyone know how strong Amendment 8 would be at preventing donations to political committees set up to support the Governor or candidates for Governor? I would assume there are lots of business entities that have received over 50k in tax credits or grants through the years. I would also assume that there are loopholes that folks could use to get around that prohibition . . . but maybe not?
Comment by Amendment 8 Tuesday, Jun 23, 15 @ 4:24 pm
Eighteen votes short. That’s some serious miscalculatin’.
In the Trib, Emanuel ducked a question on schools opening on time.
Comment by Wordslinger Tuesday, Jun 23, 15 @ 4:30 pm
==No one talked to me about it either, yet I knew what was at stake==
May be the Comment of the Year. Golden Horseshoe worthy, 47th.
Tomorrow’s borrowing could be the reason for running the CPS bill so quickly today. iirc, there will be a large % increase on whatever they borrow tomorrow so they could have decided to take a chance and run the bill.
Comment by Formerly Known As... Tuesday, Jun 23, 15 @ 4:34 pm
Looks like Madigan is losing control of his members…good timing with the Rauner ads and all. Maybe Rauner doesn’t know what he’s talking about when it comes to the Speaker?
Comment by Orange Julius Tuesday, Jun 23, 15 @ 4:34 pm
Newsflash: Yo Rahm, don’t try and triangulate the Speaker!
Comment by Orange Julius Tuesday, Jun 23, 15 @ 4:36 pm
- Orange Julius -,
Explain why MJM pulled his targets off then? “Who” do you think can’t count votes, Madigan or Rauner?
Please understand Caucus Governing.
Maybe Rauner double-crossed Rahm… lol
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 4:38 pm
OW…read between the lines…
Comment by Orange Julius Tuesday, Jun 23, 15 @ 4:40 pm
A few more “shams” out the governor’s office on the DCEO bill.
Geez, who’s got the “sham” concession over there? They’re making out like a bandit.
Also, MJM should be more like that nice Mr. Cullerton in the Senate. When did he get off the “100 years of corruption” list? Didn’t the governor say just last week that Cullerton had a hinky law practice?
Comment by Wordslinger Tuesday, Jun 23, 15 @ 4:41 pm
- Orange Julius -
I got ya after the 3rd read…
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 4:41 pm
OW - sorry about being so cryptic. Who knows, maybe the speaker loses control until certain ads stop running?
Comment by Orange Julius Tuesday, Jun 23, 15 @ 4:49 pm
- Orange Julius -,
You have a velvet hammer delivery.
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 4:54 pm
The Speaker was obligated to call the bill on behalf of Mayor Emanuel, he knew it would fail, just as he knew the bill he called on May 31, 2013 for a CPS pension holiday would fail. He knew the vote count, but given what is going to happen here in Chicago with our property taxes this vote provided cover for Chicago Representatives. They could at least tell people screaming at them look we tried to pass a bill to help fix this. Even a strong CTU supporter like Rep Will Guzzardi voted for it because he knows what is coming in terms of tax increases. To use an old phrase - the chickens are coming home to roost.
Comment by Rod Tuesday, Jun 23, 15 @ 4:58 pm
Well, did anyone expect the Governor to drop a couple million criticizing the Speaker for controlling every single Democrat and then have the Speaker turnaround and prove them right?
And apologies for the use of the “t” word. OJ is on it.
Comment by Juice Tuesday, Jun 23, 15 @ 5:00 pm
Hmm. Twitterverse…
@LTrover: The only reason the Speaker’s Chicago caucus would vote against the Mayor’s bill is because Madigan wanted to kill it.
Were all 47 House Republicans “green”?
Food for thought.
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 5:04 pm
And as for flowers, I think we take her at her word. No one came to talk to her. That means mjm didn’t forecast how he wanted her to vote and the city and Guv office didn’t ask her for her vote. Something this big, you get your staff out there giving legislators the heads up. It’s called lobbying.
Comment by dawn Tuesday, Jun 23, 15 @ 5:08 pm
==Something this big, you get your staff out there giving legislators the heads up==
This would not be the first time Rahm failed to do that with GA members.
Comment by Formerly Known As... Tuesday, Jun 23, 15 @ 5:16 pm
So the governor’s office now says it supported the CPS bill?
Geez, why cop to that now? It’s not like he put a ton of votes
on it.
Comment by Wordslinger Tuesday, Jun 23, 15 @ 5:18 pm
If Orange Julius is right at 4:49, then Madigan killed the bill because of the ads. So Madigan killed the bill.
In what universe should Durkin, with no City members, put all of his votes on a CPS relief bill?
Comment by Miami Tuesday, Jun 23, 15 @ 5:27 pm
- Miami -,
Rauner owns the HGOP, if Rauner wanted to help Rahm, Rauner should’ve told the bought HGOP he didn’t wavt a $&@#% problem, abd put 47 “green” on it.
Rauner was 18 short.
The LLs and Press Shop; I’m not going to say both are failing Governor Rauner, I’ll just let that sit out there for others to… decide.
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 5:31 pm
Miami - The Bill didn’t pass because it didn’t get enough votes.
Since Durkin is totally controlled by Rauner and Rauner cut a deal with Rahm, BR needs to deliver his votes. That total control by Rauner of Republican votes might need to be pointed out to the voters.
Chaos is fun, isn’t it? Maybe not…I thought that Blago comparison was unfair…I’m starting to rethink that…
Comment by Orange Julius Tuesday, Jun 23, 15 @ 5:33 pm
That’s twisted. The Chicago speaker and fellow Dem to Rahm obviously did not put forth a good effort, but it’s Rauner’s fault?
Your hatred of Rauner is clouding your logic.
Comment by Miami Tuesday, Jun 23, 15 @ 5:37 pm
Rauner owns not bringing GOP votes.
Durkin’s quote, as tweeted by Pearson, reminds me that Rauner owns the HGOP, but can’t deliver the votes.
Please learn, - Miami -, the Governor controls the 47 votes. Rauner said so, to them. It’s not me saying it, Rauner told them that.
Rauner failed to deliver, that’s why Trover tweeted the “cover” tweet. Rauner said he’d deliver. No one told him to say he supported it.
There’s a dynamic you’re missing, because Rauner refuses to own anything.
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 5:42 pm
Miami - Madigan voted for the Bill. Are you advocating that suburban legislators bail out the City of Chicago schools? Everyone voted their District today. Rauner needs to exert that control he’s been bragging about for the last few months.
Comment by Orange Julius Tuesday, Jun 23, 15 @ 5:43 pm
OW, this vote was a message from Madigan, but that doesn’t mean it was for Rauner.
Comment by mcb Tuesday, Jun 23, 15 @ 5:46 pm
- mcb -,
Agreed. This is not the idea that Rauner failed, this is a “Barzini-Tattalia” dynamic
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 5:49 pm
Miami, which is it? Madigan “killed the bill” or he “did not put forth a good effort” to pass it?
You understand that those two statements from you, posted ten minutes apart, are completely contradictory?
Spin crazy like that, you’ll fall down and hurt yourself.
Reports are Emanuel and Rauner had a deal on the bill.
Durkin said “Our votes are not going to be taken for granted in the overtime session.”
Taken for granted by whom?
Comment by Wordslinger Tuesday, Jun 23, 15 @ 5:58 pm
The CTU only desire seems to be pension payments. I say CPS skip the payment.
Comment by Tone Tuesday, Jun 23, 15 @ 6:03 pm
–I say CPS skip the payment.–
That’s a swell idea! I wonder why no one ever thought of doing that before! What’s the harm?
Comment by Wordslinger Tuesday, Jun 23, 15 @ 6:07 pm
Just keep repeating the mantra. Chicago is not at all like Detroit, which is correct except for the bankruptcy part.
Comment by Strikeuno Tuesday, Jun 23, 15 @ 6:11 pm
Not contradictory at all, Word. He killed the bill by purposefully not putting forth a good effort. In boxing, it’s called taking a dive.
It’s not that hard to understand. It’s what happened today.
Comment by Miami Tuesday, Jun 23, 15 @ 6:14 pm
- Strikeuno -
Housing prices are rising in Chicago…
Explain that dynamic. Don’t hurt yourself.
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 6:16 pm
Sorry for the redundancy. Posts weren’t going, then they all went at once.
Comment by Miami Tuesday, Jun 23, 15 @ 6:16 pm
==Durkin said “Our votes are not going to be taken for granted in the overtime session.”==
I also noticed that, right before he voted for the CPS bill. Mix messages?
Comment by Formerly Known As... Tuesday, Jun 23, 15 @ 6:22 pm
FKA, just a guess, but I’m thinking he’s telling the governor and mayor that they have to work it if they want a big number on a tough vote. It was their deal.
Comment by Wordslinger Tuesday, Jun 23, 15 @ 6:25 pm
===I also noticed that, right before he voted for the CPS bill. Mix messages?===
It’s Barzini-Tattaglia, who needed the bill to pass, who needed to deliver the votes, who benefits/loses with the outcome of the bill, and who (plural) tried to drag the HGOP in end arounding the Speaker to do so… using who?
It was Barzini all along.
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 6:27 pm
Who’s Rauner’s deputy for legislative affairs again? That guy who wrote such a nice letter to Bradley, and has been building such strong bridges lately?
Two things never to forget: legislators are normal human beings who don’t like to be personally insulted, and it will take an awfully good reason for them not to vote their districts.
Comment by walker Tuesday, Jun 23, 15 @ 6:44 pm
It’s more than apparent that CTU doesn’t care about education. Massive class sizes and less teachers are on the way. Just as they like it. No accountability.
Comment by Tone Tuesday, Jun 23, 15 @ 7:02 pm
- Tone -,
Is there a point somewhere? If you have one with your rant on CPS, make it, or label it a rant…
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 7:06 pm
I thought Emanuel was a Wall Street fixer and all-around Smart Guy who could wheel and deal and come up with the solution to seemingly intractable problems.
Turns out he’s just another guy who had a few big paydays courtesy of his pals. Left to his own devices, he seems pretty ordinary.
Comment by DuPage Dave Tuesday, Jun 23, 15 @ 7:08 pm
– less teachers–
fewer teachers, since you’re all so concerned about the educatin’.
Comment by Wordslinger Tuesday, Jun 23, 15 @ 7:15 pm
=== Two things never to forget: legislators are normal human beings who don’t like to be personally insulted, … ===
“Two things never to forget: legislators are usually people with huge egos who take great offense to being personally insulted, …” There, that’s better.
Comment by Norseman Tuesday, Jun 23, 15 @ 10:33 pm
- Norseman -,
It’s safe to say Goldberg is not an asset in acquiring Dem House votes.
I’m going on a limb…
Comment by Oswego Willy Tuesday, Jun 23, 15 @ 11:16 pm
They should switch to a pay as you go system like social security. Someone commented that they would have to pay off their unfunded liabilities, benefits accrued to date, and the new plan and it would cost more.
In my mind, the unfunded liabilities are future year payments. In a pay as you go system, you only have to pay the benefits for the current year beneficiaries. There no longer are unfunded liabilities because retirees are funded on a year to year basis. Benefits accrued to date? People would still get their pension payments, just the way it would be paid is different. Benefits are paid to current retirees by figuring out how much pension payments have to paid this year, and the city and current employees pay that amount. Plus you have a big chunk on pension money that actually exists in the pension account to help you manage this. Would it work?
Comment by NoGifts Wednesday, Jun 24, 15 @ 5:49 am
Miami - “dive”
Really? What should Madigan have done differently to convince his suburban members to help bail out CPS when Republican suburban members were voting no on the Bill? Get suburban Republicans on the Bill and Suburban Dems may come along. Until that happens, “no” is a much safer vote (and smarter) vote.
Comment by Orange Julius Wednesday, Jun 24, 15 @ 8:13 am
Pay as you go won’t work, look at the total current CPS annual budget and then look at the expected benefit payments for say the year 2030.
Comment by Name/Nickname/Anon Wednesday, Jun 24, 15 @ 8:43 am
==…still would not be able to make the pension payment of more than $600 million…==
Without the much needed increase in Chicago property taxes, a delay in the pension payment is not likely to pass in Springfield.
Comment by Enviro Wednesday, Jun 24, 15 @ 9:29 am