We are sorry to report that James Spiotto passed away last week from a sudden heart attack. He was 73.
Regular readers here will recognize his name from quotes from him and links to his work. He became the nation’s leading legal authority on municipal bankruptcy through a long career at Chapman & Cutler in Chicago.
Afterward, he devoted his retirement to public policy matters and became exceptionally generous with his time and learning. We’ve benefited immensely at Wirepoints from his publications and our conversations with him. Ted Dabrowski and I were scheduled to have another call with Jim on the day it was reported he had passed.
In those years he provided concrete suggestions pro bono to fiscally troubled states and cities. “To raise taxes and reduce services to fund that which is unaffordable only causes corporate and individual taxpayers to leave the state with resulting reduction of tax revenues and the ultimate death spiral of the government,” he wrote in 2014.
In that article, about why Illinois had to change the fiscal direction it was on, he wrote, “The tree that does not bend in the wind is uprooted.”
Amen.
– Mark Glennon
Ted was on The Chicago Way with John Kass and Jeff Carlin to discuss the proposed $5 billion lakefront stadium project proposed by the Chicago Bears & Mayor Brandon Johnson, why Chicago is struggling compared to other metro areas across the country, why the city might or might not go the way of Detroit, and more.
Some Illinois lawmakers continue to deny that covid aid and other federal stimulus bailed the state out of its fiscal mess. But a look at past and projected revenues from COGFA shows just how much the bailouts blew out the state’s revenues. And now that they’re over, how much harder it will be for Illinois revenues to grow.
Election integrity – both real and perceived – is essential to government’s legitimacy and stability. Illinois, like the rest of the nation, better fix its problems now.
Ted joined Dan and Amy to talk about Chicago’s latest bond offering, why Chicago’s dismal home value growth is due to poor policies, the next $70 million to be spent on migrants, the 9% salary hikes demanded by the CTU, and why Illinois lawmakers voting to stop Chicago’s selective enrollment schools from being closed is hypocritical.
Weekly crime statistics from the Chicago Police Department: Report through 4/21/2024.
Great Spiotto articale from 2/22. https://muninetguide.com/wipe-out-public-debt/
Yes, for those interested just search Spiotto with our search tool in the upper right and you will find lots of others.
Our sincere condolences to the family and friends of this fine gentleman. He worked tirelessly to keep us all informed. Peace be with you.
My condolences to Mr. Spiotto and his family. May he rest in Peace!