Wirepoints’ Mark Glennon as Guest of John Anthony on AM560: Chicago’s Fiscal Trajectory Amounts to ‘Watching a Train Wreck in Process’

Summary and audio linked here.

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Jeff Carter (pointsnfigures1)
3 months ago

The one problem with making statements like this, even if financially correct, is that we have been making them for years. There has been no bankruptcy, no C+ credit downgrade to junk. Same with US debt. I think we on the financial responsible side need to find a new argument.

I don’t know what it is exactly. No one cares about the numbers. What do they care about? Freedom? If they care more about free stuff than freedom, it is the road to serfdom.

Sweet Home Alabama
3 months ago
Reply to  Mark Glennon

Gradually, then suddenly as Hemingway said. The suddenly will be if the market tanks for an extended period. The fact it’s been slowly is due to a booming market. In spite of this the city still manages to lose money.

Free at Last
3 months ago

Some people cannot be “told” anything, especially a liberal. They have to learn it the very hard way and even then for people like Chicagoans and Illinoisans, they will blame their predicament on an easy to understand boogie man. I.e. Trump. Their low self esteem will not allow them to admit they were wrong. The slaves, lemmings, losers and leeches you have left there in Illinois will only learn after years and years of misery while watching neighboring states thrive. Some are not capable of learning anything. i.e CPS graduates and lifelong welfare queens. The situation there is as close… Read more »

Kaiser Solzay
3 months ago

I think it goes something like this, Going broke gradually, and then suddenly. Good luck.

Sweet Home Alabama
3 months ago

Carnival barker! Actually Michigan has pension protection which sounds suspiciously like IL. I remember that because they threatened to sell the assets of the art museum off. I have to wonder if it was written by some union hack. “The accrued financial benefits of each pension plan and retirement system of the state and its political subdivisions shall be a contractual obligation thereof which shall not be diminished or impaired thereby.”

Cass Andra
2 months ago

My belief is fthat the language can be read as imposing State responsibility for underfunded City pensions. “The accrued financial benefits of each pension plan of each … political subdivision shall be a contractual obligation thereof [of the state and political subdivision?]” How many elected Democratic judges are going to be willing to risk their futures by a narrow interpretation of that language? You can be assured that the participants in the Constitutional Convention that drafted such language were very careful to insert language in the convention history that would have supported the notion of State liability for municipal pensions.… Read more »

Leaving Soon, just not soon enough
3 months ago
Leaving Soon, just not soon enough
3 months ago

And the public sector still wants much more money. The taxpayers are tapped out, busted. Highest taxes and some of the worse services. Almost everything Chicago touches turns out to cost 3 times more than it should and bottom of the bucket results. It is criminal what the public sector has done to a once great city. Chicago is destined to fail.

ahimsa42
3 months ago

speaking of financial train wrecks, independent analysts and economic data indicate that the total burden of the iran war, including domestic and indirect economic impacts, ranges between $112 and $150 billion to date with no end in sight.

Jeff Carter (pointsnfigures1)
3 months ago
Reply to  ahimsa42

You aren’t adding it up correctly. What’s the opportunity cost of having a nuclear Iran?

ahimsa42
3 months ago

was it not trump who claimed that if kamala were elected we would be at war with iran within a year and that if he were elected, he would prevent this from happening as remember his campaign promise of “no more foreign wars!”? this goes to show once again that if a democratic pres did what trump is doing there would be tremendous GOP outcry but since trump started the was it’s obviously being done for national safety.

Hello, Indiana!
3 months ago
Reply to  ahimsa42

I guess we should’ve kept the pallets of money Joe gave them because they promised not to pursue nuclear weapons any longer, a promise that they promptly broke. And then there is the money spent in Ukraine, NGO’s spending money like sailors on shore leave on ridiculous things all over the world and the cost of allowing 10-20M illegals to invade our country.

The Railroader
2 months ago
Reply to  ahimsa42

That’s cute, Ratio King. Now calculate the costs of a nuclear weapon-wielding Iran.

BH
2 months ago
Reply to  The Railroader

I believe those costs are roughly the sum of all GDPs of every country on Earth — because Iran would attack them all! (And obliterate them, with nuclear weapons.) God bless President Trump for keeping us safe, and saving us from the end of all of humanity.

Leaving Soon, just not soon enough
2 months ago
Reply to  ahimsa42

The debt from Viet Nam is still on the books. War is very expensive and accomplishes nothing.

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Wirepoints’ Mark Glennon on AM560: Why We Need to “Relentlessly” Make the Blue State-Red State Case

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.

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