Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
Unfunded Pension liabilities will be the cause of death for Illinois and Chicago. Pensions costs are exploding and will continue till they are ended. Taxes have to go much HIGHER to even come close to funding pensions. The way is it set up now the next generation will be higher in debt before they are born than ever in recorded history.
You can’t tax you way out of this hole, bankruptcy is the only solution for Chicago (and it it was possible) Illinois.