Debt riddled Chicago offering deadbeats “free money”

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Amoroso

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As Chicago slowly slides closer into bankruptcy Mayor Rahm Emanuel and progressive legislators have apparently decided to speed things up, proposing to “give away” $500 dollars a month to 1,000 families, “no questions asked!”

The “Windy City” may soon become the largest municipality in the U.S. to test this “re-branded welfare program” dubbed (for the benefit of their gullible citizenry), the “Universal Basic Income Program.”

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Actually, the program’s name is a misnomer in that the word “income” by definition means “money received, especially on a regular basis, for work or through investments.”

The play-on-words is apparently designed to elevate the negative stereotype of individuals receiving taxpayer money, for doing nothing except for residing within the debt-riddled city.

The bill recently proposed by Chicago Alderman Ameya Pawar has already received the blessing of the mayor and city lawmakers. The next phase would be to begin implementing the program.

This would require politicians like Emanuel and Pawar to sell their socialistic scheme of “redistributing wealth” to the general public by painting a dire scenario of economic doom, in which only ‘BIG BROTHER” can help.

“Nearly 70% of Americans don’t have $1,000 in the bank for an emergency,” Pawar informed the media.

Adding, “UBI could be an incredible benefit for people who are working and are having a tough time making ends meet or putting food on the table at the end of the month.”

No doubt a noble undertaking for those blissful progressive individuals who somehow always believe “free anything” actually means “free” and that no one will pay for this PONZI scam.

The good mayor and his cohorts, for example, hesitate to acknowledge that Chicago is in dire financial trouble sliding slowly towards bankruptcy if it doesn’t get its financial house in order.

Moreover, the Illinois Supreme Court recently ruled in favor of municipal unions against the city’s attempt to modestly modify city contracts, ruling it unconstitutional.


Chicago’s four city-run pension funds have a combined $20 billion shortfall, nearly six times larger than the city’s annual operating budget.

Currently, Chicago taxpayers are on the hook for nearly $35 billion dollars in pension debt alone, that’s nearly 4-times greater than a decade ago. When broken down to individual households that would tally to over $60,000 for every family living in Chicago.

However the financial blood-letting doesn’t end there, thanks to progressive mismanagement, the city purposefully shortchanged the pension funds.

For example in 2010 politicians passed a three-year pension “holiday” that allowed Chicago Public Schools to skip $1.2 billion dollars in contributions to the teacher pension system.

So now we have Mayor Emanuel and Alderman Pawar along with dysfunctional progressive legislators once again stealing from Peter to pay Paul, with funds they don’t have.


14 Comments
  1. Post Author

    Democratic socialism never works they will just go deeper in debt look for their taxes to increase! They will have to pay for it someway

    • Post Author

      Just like the state of Illinois the Democrats think this is normal. The time of reckoning will come. This story did not ever address the states pension issues where they are 200 billion in the whole. Free money is only to push for VOTES. Say good bye to Illinois

    • Post Author

      Didn’t Norway just terminate a similar giveaway early?

    • Post Author

      Yes,. They will have to pay, and pay, and keep paying till they go belly-up! This is the insanity of liberalism!

  2. Post Author

    Raham Emanuel the Mayor of Chicago, a Muslim and their city is a crap hole of crime, deadbeats, violence and is almost like a 3rd World shit hole !

  3. Post Author

    Instead of offering “Free Money” to deadbeats, as the Mayor of Chicago, instead make a real effort to clean up your crime riddled city !

  4. Post Author

    Chicongo is a mess ! Armstrong Economics points out that the pension fund crisis will bring the whole house of cards down. It’s a nationwide crisis brewing!

  5. Post Author

    Illinois is flat dead broke and deeply in debt! We can’t provide for our senior citizens who need meds, or our homeless vets. Our taxes are already sky-high, and climbing! Many of the elderly on Social Security cannot afford to pay their property taxes, and are losing their homes! Where does Emanuel plan to get the money to pay for any of this? And I’m not asking a rhetorical question here. As citizen of Illinois, I DEMAND to know in detail how he plans to pay for this!

    • Post Author

      When the Illinois government comes to collect taxes and your pockets are empty, don’t come crying to the rest of the country. This is a classic Liberal Democrat mess.

  6. Post Author

    Moron Friedman, hero of Libertaians, was a fan of a universal basic income. And several European countries are implementing it with a fair amount of success.

  7. Post Author

    I doubt that any more Chicago citizens will have $1,000 in emergency funds after this is implemented. Not much seems to work for the Mayor, and I would question that this will, except, perhaps, at the ballot box. Too bad – the money is badly needed elsewhere.

  8. Post Author

    This is “taxation without representation”, since others who are fiscally responsible will pay for the “bail-out” !!!

  9. Post Author

    Wonder who the 500 families will be, and how they will be selected. No doubt, 1st requirement is that they be Democratic and black.

  10. Post Author

    The problem with socialism is that you eventually run out of other people’s money. ~Ronald Reagan

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