Wednesday, November 13, 2013

"Chicago" Bears? Maybe Not for Long!

Nah.  Not because da Bearssss are moving out.  But because Chicago may go out of business.

...The city’s out-of-control pension liabilities and “accelerating budget pressures associated with those liabilities” has resulted in another credit downgrade by Moody’s Investors Service.

The national credit rating agency downgraded the city’s nearly $8 billion in general obligation bonds to A3 from Aa3. This is a triple-notch downgrade.

Chicago is now just four notches above junk-bond status – any further downgrades mean the city is likely to face problems borrowing money
....--quoted at Mish's Place

Realistically, if Chicago gets the four-notch downgrade, the Federal Gummint will force Wisconsin taxpayers to bail it out, no matter which of the TweedleDum/TweedleDee parties is in control in the District of Criminals.

Ruling Class, ya'know.  Smarter than us country-class bumpkins.  See ObozoCare, e.g.

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