-- Connecting the dots between our economy, government and business --
Jim Dey: “Remember, it’s money that talks in politics, particularly in Illinois, and Madigan’s cash pile speaks volumes about his continuing status as the straw who stirs the drink.”
“‘Many of these things are elephants in the room that we have known about since the last fiscal crisis, and we let that last crisis go to waste,’ Chicago Inspector General Joe Ferguson told us on Friday. ‘We do not have the luxury of letting this crisis go to waste.'”
The Illinois Department of Public Health reported the metro-east’s seven-day rolling average positivity rate increased from 8.1% on Friday to 8.2% on Saturday. The region’s hospital bed capacity was at 28% on Saturday, down from 31% Friday, and its ICU capacity was at 52% on Saturday, up from 51% Friday.
Region 9, comprised of McHenry and Lake counties in far northern Illinois, has seen its positivity rate rise to 7.8% as of Oct. 21, meaning that it’s inching closer to the crucial 8% barrier. The city of Chicago could also see more restrictions handed down by the state even after implementing its own mitigation strategies.
The Illinois Lottery is the largest source of Illinois gambling revenues. The pandemic has depressed lottery ticket sales by $172.5 million.
Illinois’ latest Consumer Lending Trends Report shows that predatory lenders in Illinois attracted a 5% increase in new borrowers in 2019. Abe Scarr of the consumer watchdog group Illinois PIRG said, “They are not stupid. They go to these companies with their eyes wide open because they are desperate.”
Comment: After initially refusing to offer Steele’s new film, Amazon caved after intense criticism, that included our own Wirepoints column.
Jefferson’s views about cities were not embraced by the nation for 230 years, but that may be changing. Most of his other views were held sacred, but that, sadly, is also changing. Time will soon tell which ones prevail.
A little know provision of the Heroes Act passed by House Democrats would allow states and cities to borrow from the Federal Reserve Bank at extremely low rates for ten years, essentially replacing the municipal bond market.
One Frankfort restaurant owner said it’s worth the risk if it means supporting himself and employees, while taking safety measures. Does he think the governor’s bark is bigger than his bite? “I guess we’re going to find that out,” he said.
“The rates have been called ‘particularly ungenerous to the poorest Illinoisans.’ The proponents of this tax hike wish to tax your very first dollar at 4.75 percent, a mere fifth of a percentage point less than the current flat rate of 4.95 percent. This plan would see middle-class and lower-income families paying 25 percent more than we all paid prior to the last tax hike.”
“Why did you shoot? I didn’t do nothing wrong. I have a license. You didn’t tell me I was under arrest. Why did you just flame up my car like that? Why did you shoot,” Tafara Williams asked from her hospital bed.
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