Mayor Daley says Country is in a Recession

[Bandit]

Mayor Daley says Country is in a Recession
Mayor Wants Legislature to Stop Stalling



(WGN-AM) Chicago Mayor Richard Daley says although no one wants to admit it, this country has been in a recession for a long time. Daley says he doesn't see it going away in two months or three months, saying it's long term and the housing foreclosure crisis is getting worse.

Daley on Saturday declined to rule out layoffs of police or other municipal employees. The city is facing a 400 million dollar shortage in the 2009. Daley noted that the city, unlike the federal government, doesn't have the option of running up the deficit to fund it's programs.

Daley says he hopes the Illinois legislature will stop stalling and compromise on a state capital program. The state was supposed to have a state budget in place July 1st, but the legislature remains in a stalemate. Daley says personality politics are keeping the state government from rebuilding roads, fixing bridges, updating schools and completing other infrastructure work.

(The Associated Press contributed to this story)

http://www.wgnradio.com/index.php?option=com_content&task=view&id=42945&Itemid=492

[Bandit]

...the third largest US city finally admitting to this recession we have been in FOR A LONG TIME.

The report I first heard also said that being 400million short means a whole bunch of city employees & police will be getting laid off to meet the shortage budget.

I could not find the whole article but there you have it finally being admitted from the horseys lips.

[JRScott]

I think we are still on the verge of the second great depression, primarily caused by the programs of the first great depression and the immense money mismanagement by Washington since that time.

[bmrigs]

I think we are still on the verge of the second great depression, primarily caused by the programs of the first great depression and the immense money mismanagement by Washington since that time.

I think politicians like to try to convince everybody that we are not in a recession because they think that if they can convince everybody that we are not in a recesssion that we will NOT be in one. They think its a confindence mechanism that will keep us afloat. It cant. Our money system is not infinite and has to come to an end.

[Bandit]

all the signs are there for a depression. all that is really left is just bringing a few more countries into WW111.

I think they will call it such after two full years of recession & this one we are in I am going to guess has been on for about one year now.

I remember ignorant bush two months ago acting dumb as if he had no clue that gasoline had hit $4 a gallon....oh would someone PLEASE shoot him already. That is the kind crap we get from people who call themselves American Leaders?

but to hear it from a Mayor of a large city like that is going to shake & wake people & I am sure it was not easy to say it, until he realized that city employees can't be paid when 400 million in the hole!

& what was nice about it is he made it clear that cities cannot create debt based plans & imaginary money like the Federal Gooberment does.

[AngelinaCatHub]

I thought we were going into recession with Pres Carter when he invented a fake fuel shortage. I also recall seeing tankers dumping gas into closed up old gas stations and tankers off of Florida coast floating low in the water.

As stated before, our money is worthless right now. If any extra purchase storable food. You can’t eat that worthless ten dollar bill when the grocer says your can of beans in $1500.00 today and will be higher tomorrow after we print enough fake money to pay off our National Debt. Weimar Republic Germany 1920’s. They paid the WWI debt by printing money. As a kid I had a stamp collection. I didn’t quite understand German stamps that were marked one with an over print saying 1 bil mch. 'Hub

[Bandit]

hey AngelinaCatHub,

that transition between Carter & Reagan was a recession. It was the worse one ever- in fact many people called it depression, second to the first depression, as they had not seen such hard times since the 30's. But this time I feel people are concerned about it, more than the Carter/Reagan era.

[AngelinaCatHub]

I hope they are concerned as the people who knew what it was or those told by their parents are either dead or old now. We are too soft and this one will become an insurection, and you will have to protect your own. The police do nothing for you except clean up the mess after the crime. I see martial law on the horizon. If that happens, we will never return to what we aren't now, a Republic. We will be under a dictator. Don't even ask Dem or Rep, they are all the same. 'Hub

[bmrigs]

I hope they are concerned as the people who knew what it was or those told by their parents are either dead or old now. We are too soft and this one will become an insurection, and you will have to protect your own. The police do nothing for you except clean up the mess after the crime. I see martial law on the horizon. If that happens, we will never return to what we aren't now, a Republic. We will be under a dictator. Don't even ask Dem or Rep, they are all the same. 'Hub

We havent been a republic for some time, I think after the civil war and during Reconstuction the nation began turning into a Democracy. Your right things could get out of hand with a collapsed dollar and food shortages. Then you will see the ugly side of human beings. I think this could happen and its just what the Owners want because people will beg the govt to resolve the crisis with any conditions the govt puts on them for the sake of "security" and Americans will then completely relinquish any rights they have left. This is going to be the pretext for micro chipping the people.

[AngelinaCatHub]

We havent been a republic for some time, I think after the civil war and during Reconstuction the nation began turning into a Democracy. Your right things could get out of hand with a collapsed dollar and food shortages. Then you will see the ugly side of human beings. I think this could happen and its just what the Owners want because people will beg the govt to resolve the crisis with any conditions the govt puts on them for the sake of "security" and Americans will then completely relinquish any rights they have left. This is going to be the pretext for micro chipping the people.

Exactly. Picture Soylent Green.

[Bandit]

CHICAGO

Mayor Richard Daley warns of big deficit on Chicago budget
Shortfall is only described as 'more than a few hundred million'
Tribune staff report
July 30, 2008
Mayor Richard Daley warned Tuesday of a city budget deficit in the hundreds of millions of dollars, calling the looming financial crunch the worst he has seen.

The administration continued to blame what it described as a national economic recession for Chicago's money problems.

"There's a huge economic downturn happening across America," Daley said. "This is a very serious economic time for the country."

The size of the city's budget shortfall, however, remained a moving target Tuesday.



"A couple hundred million dollars," Daley told reporters.

Later, Daley spokeswoman Jacquelyn Heard amended that statement.

"When the mayor said a couple hundred million dollars, he didn't mean that literally," Heard said. "He meant it in general terms, as in, 'More than a few hundred million.' "

The mayor's budget director, Bennett Johnson III, also avoided giving an exact figure when questioned by aldermen. He plans to have a projection by Thursday.

http://www.chicagotribune.com/news/local/chi-daley-chicago-budget-30-jul30,0,2964250.story

[Bandit]

There it is again, two days in a row, for anyone who wants to keep saying we are not in a recession, a BAD one & a long one, at that.