-- Connecting the dots between our economy, government and business --
Chicago is rapidly running into a situation where the market won’t let it do that anymore at rates that are anywhere near other muni market rates. So are other governments. Their choice will be to raise many fees and tax citizens at higher rates.
Governor JB Pritzker’s 70-page federal wish list would cost trillions of dollars, but not a word is provided on that or how it would be paid. Summary and audio linked here.
Glennon raised the stakes of the moment in broader civilizational terms: “This election in Illinois is not about the usual pedestrian issues… it’s about nothing less than whether Western civilization survives in our democratic republic of America because [the left], just on the open border alone, will destroy the country, and now they’re bringing in the jihadists, frankly, into the party.” Audio and summary linked here.Audio and summary linked here.
New Trier High School made national headlines nine years ago as a “canary in a coal mine” for political indoctrination in public schools. The canaries lived.
Audio and summary linked here.
Among the consequences of economic growth that badly lags national averages are billions of lost revenue every year. Yet denial reigns in Illinois, fueling the vicious cycle of demand for higher taxes.
Dems/DSA plan?
Win back da WH in 2028 and then PRINT more $$ to bail out Big Blue Cities like Chicago!!
Chicago can still make some money on tourists. My suggested marketing slogan: “Come to see the last days of our glory before we collapse like Detroit.”
Time to roll out the graduated income tax again so that the rest of Illinois residents can help pay Chicago’s debts. Can Chicago be sold to Indiana? And what would it be worth? While we’re calculating, what’s your house worth when you subtract the present value of future property taxes, insurance, etc.? Everybody’s under water without a tsunami.
Chicago needs the bankruptcy now candidate.
Agreed. We are at (or beyond) the point where the problems with bankruptcy are fewer than the problems of delay.
The young people are leaving in a high percentage; Illinois is losing years of income tax by driving them away. The next group are the high-income earners and job creators. This takes away from future job and growth opportunities. As Ron White says, “You can’t fix stupid”.
Total agreement with this article. Their cultural policies (illegal immigration, trans-gender advocacy, DEI, climate etc.) are bad enough, but it’s always been about the money too. This is how a rathole like this continues getting worse. They need to win elections to continue the scam nationwide. I’m not happy with parts of the GOP either but consider the alternatives if you let these corrupt parasites win by your nonparticipation.
This is a great article regarding the impact of the spread and the effect of more normal Fed rates on the City’s ability to borrow. Flip and Toss/Scoop and Toss is also well explained. Now, how many democrat voters in Chicago know about the spread, the fed rate or scoop and toss? How many can spell “spread?” In fact, I would bet that 99% of the Chicago alderman and denizens of city hall don’t understand how this works. They don’t care. Borrowing money against tax revenues/your earnings with no intention of paying it back or solving any problems, is what… Read more »
They firmly believe economics can be brought to heel by just passing laws. They can just legislate away economic problems along the way to utopia.