Financial News

[NorthSideSox72]

And that's exactly what they'll do, quite easily.

Probably, but let's see how the political trends fall out. Illinois has always been seen as a reliably blue state (in recent decades anyway), but there was a significant shift this past year. In addition to the GOP gains, some Dem reps and senators refused to sign onto this thing, and they are also not likely to sign onto such a change. Furthermore, as the state's financial situation gets worse (which it will, despite these actions), the trend is likely to continue.

 

I'd not be at all surprised to see the state GOP attempt to put on a state Constituional amendment to require voter referendum to increase taxes as well, and they don't need legislative majority to put it on the ballot.

 

[Soxbadger]

There were other ways that they could have made money instantly as well. I just think they should have spread the increases out over more time as well as over different areas, ie not just income tax, but raising taxes potentially on liquor, cigarettes as well.

 

In the end the amount of money should be the same, just not the same sticker shock.

[Balta1701]

I'd not be at all surprised to see the state GOP attempt to put on a state Constituional amendment to require voter referendum to increase taxes as well, and they don't need legislative majority to put it on the ballot.

"Illinois looks at california...thinks "Man that works great!" and decides to be just like it."

[southsider2k5]

"Illinois looks at california...thinks "Man that works great!" and decides to be just like it."

 

Yeah, the funny part is that Illinois screwed themselves up with pretty much one party rule. No one helped them at all.

[Jenksismyhero]

That would be the opposite of what was needed, so no way that would have happened. The only good news is, the step-downs are written in law, so they'd have to specifically pass legislation to change them. Bad news is that they did this at all, and at the scale they did.

 

 

 

Well, it was this idiot or the other idiot.

 

I'm quite confident that Brady would not have signed this bill.

[NorthSideSox72]

Yeah, the funny part is that Illinois screwed themselves up with pretty much one party rule. No one helped them at all.

 

I've said before, when IL had a long stretch of Dem legislature combined with GOP governor, and both were relatively moderate, things worked pretty well in Illinois.

 

I'm quite confident that Brady would not have signed this bill.

 

No, he would have pushed for some other, different stupid idea.

[StrangeSox]

I've said before, when IL had a long stretch of Dem legislature combined with GOP governor, and both were relatively moderate, things worked pretty well in Illinois.

 

Except all that corruption. Not that Dem. Gov's have been better, but let's not sweep the problems under the rug.

[NorthSideSox72]

Except all that corruption. Not that Dem. Gov's have been better, but let's not sweep the problems under the rug.

Note I said pretty well, not great or perfect. Corruption was still there as in other states, and the pension problem was simmering but not quite boiling... yet, Illinois in those timeframes was still seen as a relatively effective state government. Progressive even.

 

[StrangeSox]

Note I said pretty well, not great or perfect. Corruption was still there as in other states, and the pension problem was simmering but not quite boiling... yet, Illinois in those timeframes was still seen as a relatively effective state government. Progressive even.

 

Yeah but you could say (rightfully, I think) that the pensions needed to be addressed then to avoid such a massive problem now. Just a minor quibble.

[NorthSideSox72]

Yeah but you could say (rightfully, I think) that the pensions needed to be addressed then to avoid such a massive problem now. Just a minor quibble.

Sure, and they should have been. But the problem was much smaller then because they were funded at a good level, so the only issue was the general problem of the model.

 

[Balta1701]

Sure, and they should have been. But the problem was much smaller then because they were funded at a good level, so the only issue was the general problem of the model.

Let's be a little more specific though...the general problem was "Not predicting the largest financial crisis since the 1930's".

 

Yeah, there was underfunding beforehand and unreasonable expectations of growth, but it's the financial shock that really made it hit.

[StrangeSox]

Let's be a little more specific though...the general problem was "Not predicting the largest financial crisis since the 1930's".

 

Yeah, there was underfunding beforehand and unreasonable expectations of growth, but it's the financial shock that really made it hit.

 

Weren't significant structural problems known before 2007-2008?

[NorthSideSox72]

Weren't significant structural problems known before 2007-2008?

Absolutely, and discussed significantly. The financial crisis worsened things, but Illinois government had spent about a decade (maybe a little less) pushing it far closer to the brink to begin with. The financial crisis simply took it from being a big and obvious risk, to a big active problem.

 

[Balta1701]

The number of Americans filing for first-time unemployment benefits rose unexpectedly to 445,000 from 410,000 in the prior week, the Labor Department said on Thursday. It was the biggest one-week jump in about six months, confounding analyst forecasts for a small drop to 405,000.

Link

[Steve9347]

None that I have ever met. Typical high school teachers work significantly more than 40 hours a week and usually have work at home as well.

What happens when you subtract the 3 months they do jack s*** during the year? Take out those 12 weeks and tell me they don't average about 6 hours/day and way less than 40 hours per week.

[Balta1701]

What happens when you subtract the 3 months they do jack s*** during the year? Take out those 12 weeks and tell me they don't average about 6 hours/day and way less than 40 hours per week.

You don't know that many teachers if you think they're not doing stuff during the summer. Enrichment courses (often mandatory), lesson plans, cleaning up from one year and starting another, etc.

[Steve9347]

I wish Chicago would open a land based casino though and gain the revenue that the citizens are pumping into other municipalities and states.

This would make too much sense, though.

[Steve9347]

I would have preferred a gradual increase over time, instead of a steep increase with a promised reduction in the future.

We all know that isn't happening.

[Steve9347]

You don't know that many teachers if you think they're not doing stuff during the summer. Enrichment courses (often mandatory), lesson plans, cleaning up from one year and starting another, etc.

Uhm. Actually, I'd say every female in my family the last three generations is a teacher. Yeah, they take some "enrichment courses" that come with a nice bump in pay (you should see these people flock to get their 5th masters in some totally unrelated field as well to get that bump in pay too, oh boy!). The clean-up process for the room (and it cannot be worse than my mother's room, since she teaches kindergarten) is one week of going in at 10 and leaving at 2. Lesson plans are not thought about until two weeks prior to school starting, and are often recycled.

 

You seem to be very ill-informed on the amount of work a teacher does during the summer.

Edited January 13, 2011 by Steve9347

[StrangeSox]

I've seen numbers ranging from 1250-1400 in hours-worked for teachers in a given year. A 40-hour full-time job comes in at 2000 hours.

 

[iamshack]

I wish Chicago would open a land based casino though and gain the revenue that the citizens are pumping into other municipalities and states.

I actually worked on this project when I was with the Mayor's Office about 5 years ago. They wanted to put it right over by the old Post Office I think it was, like Congress and Michigan Ave, I want to say?

 

Not sure what the roadblock has been...

[iamshack]

I've seen numbers ranging from 1250-1400 in hours-worked for teachers in a given year. A 40-hour full-time job comes in at 2000 hours.

Yeah, I just looked at my hours for last year. It was 2080 hours, and that's not counting all of them, honestly.

[StrangeSox]

2000+80 hours vacation is standard. I was closer to 2500, I think.

[Y2HH]

Uhm. Actually, I'd say every female in my family the last three generations is a teacher. Yeah, they take some "enrichment courses" that come with a nice bump in pay (you should see these people flock to get their 5th masters in some totally unrelated field as well to get that bump in pay too, oh boy!). The clean-up process for the room (and it cannot be worse than my mother's room, since she teaches kindergarten) is one week of going in at 10 and leaving at 2. Lesson plans are not thought about until two weeks prior to school starting, and are often recycled.

 

You seem to be very ill-informed on the amount of work a teacher does during the summer.

 

My friend is a teacher. He does not work summers, ever. He sat around playing video games 24/7 and partying all summer. He says he looks forward to his paid vacation every year...

 

Oh, and he makes a lot, to boot.

[iamshack]

My friend is a teacher. He does not work summers, ever. He sat around playing video games 24/7 and partying all summer. He says he looks forward to his paid vacation every year...

 

Oh, and he makes a lot, to boot.

Or they teach Driver's Ed and make another $10k in the summer.