Sunday, March 09, 2014

THE WAGES OF STUPIDITY: Chicagoans face 20 percent hike in energy prices, doubling of property taxes

I can think of only one campaign promise Barack Obama kept: ensuring that energy prices would "necessarily skyrocket."

His words, not mine.

Chicagoans will soon enjoy the wages of stupidity: that is, continually voting Democrat despite the party's comprehensive record of stupidity, corruption, and sloth.

Exhibit A:

Residential electric bills in Chicago will increase roughly 14 to 18 percent in June under a new deal the city has struck with its power supplier, Integrys Energy Services.

That follows an increase in January thanks to higher delivery charges by Commonwealth Edison Co.

...Like the previous deal, the new contract won't include power from coal-fired sources. In addition, 5 percent of the power will come from Illinois wind farms.

Exhibit B:

Perhaps the biggest pension landmine outside of Detroit is Chicago. The Windy City next year must make a $1.07 billion balloon payment—equal to a third of the city's operating budget—on $19.4 billion of pension debt. The pension payment could cover salaries for 4,300 police officers or the resurfacing of 16,000 blocks of road, and Mayor Rahm Emanuel has warned that property taxes may have to double to pay the bill...

...Meantime, the required pension contribution for Chicago schools this year is tripling to $613 million. Chicago unions are pressing the state government to raise property, sales, income and corporate taxes to bail out worker pensions. Chicago's pension funds are only half as well-funded as even Detroit's, if you can believe it, and could run dry by 2020...

You read that right: Chicago's pension funds are half as well-funded as Detroit's.

At what point do the Second City's voters throw in the towel on the Democrat Party? How much pain and suffering do they have to endure before they change direction?

Hat tip: BadBlue News


vanderleun said...

" How much pain and suffering do they have to endure before they change direction?" Here's the news. the vast majority that 'vote' in Chitown don't give a fly f*ck about any of that. They just want to keep their next plate of free ribs comin'.

Trialdog said...

Thank goodness Rahm has experience running troubled companies. He was on the board at Fannie Mae and Freddie Mac from 2000 to 2002. Of course he had nothing to do with the corruption scandals involving illegal campaign contributions to democrats during that time, and we know how Rahm's firm guidance helped secure solid and profitable futures for those GSEs. Chicago is in those same capable hands and Chicagoans will surely benefit as well as our country has since Rahm was a board member.

Anonymous said...

The people that can afford to pay face a 20% hike. The rest are on the dole. The property tax issue is a Dem method for scaring/finding other ways to raise revenue. Happens every time. Instead they raise gas tax or hotel tax or both.

Anonymous said...

demorats have been sending your jobs and money overseas to China and muslim world jihad and world socialists. You don't really believe they are not going to give the bill for that to stupids, do you ?