$1 million at a rate of 8 percent a year will garner you $4.7 million after 20 years.
So if you assume an 8 percent ROI after inflation, and you have a $4.5 million future obligation for your public pension fund, then you would provide $1 million to that fund.
If, however, you end up only getting a 6 percent ROI after inflation over that period of time, you will end up with only $3.2 million.
20 years later, it will be too late to go back and re-jigger your assumptions.
And that's where we are today.
Fascinating supposition you have made, and highly accurate too. What you didn't know is..................just like most lefty, broke, cities; they skipped payments to the pention funds because, what else; they had to buy votes for certain alderman, so they spent the funds elsewhere.
Now yes, I am being slightly sarcastic with my take on them buying votes for certain alderman; but I am being 100% accurate on them skipping payments for teachers union pensions, or putting in a lesser amount.
Let me tell you how BAAAAADDDDDDDD a liberal leaning city government actually is. About 8 to 10 years ago, they SOLD the parking meters, and the parking meter income across the city to an outside contractor for 1 billion (that is billion with a B) dollars. Oh yes they did! Know what?!?!?!?! Within a couple of years, the money was GONE! It was supposed to last years, upon years for special projects.
Tax revenue is now dropping like a rock as people who actually DO work are fleeing their jurisdiction; just as they are fleeing Illinois. Businesses who actually SELL something, and not a service can NOT compete with the collar counties, nor Indiana which is also, very close to the South side.
Let me put it this way, especially to those on the left, and it will become crystal clear-------------->what politician raises taxes like this, unless they ABSOLUTELY HAVE TO? No POLITICIAN, that is who! And if you notice, they put it on property taxes because they know, THEY HAVE A CAPTIVE AUDIENCE! Who is going to buy a home with taxes going up like this?
Now, according to you guys on the left, why they should raise the CORPORATE tax on the fat cats, shouldn't they? That is always your prescription, is it not? And Chicago is run by Obamas former chief of staff, the Rahmster! So why aren't they doing that?
HELLO lefties of la-la land, it is because what we conservatives are constantly telling you is true! You can believe all your little hearts desire that the rich are going to pay for it all, but as we can see, it is the homeowners of Chicago, the middle class as you like to call them; are the ones getting fleeced. It is because THAT IS WHERE THE MONEY IS, and they all can't sell their homes so they are TRAPPED.
And oh, by the way, it is called TYRANNY in case your wondering, and if you are all for it, I am sure you can go purchase a home on the cheap in Chicago with this plan in motion, as I am positive the for sale market will saturate very, very, soon. Now go be good little libs, buy a house there, and pay your fairshare-)
Just another day in Chicago. Democrats protesting over their financial woes and looking to blame it on anyone in charge. Today it was at the CME {and maybe even still as we speak}. Looks like they are complaining about the rich being too rich and the rest of them all in dire straights. 
