True George, but it is still a fiscal problem. And Chicago is heading down the same path.
http://confoundedinterest.wordpress.com/2013/07/28/obamas-economy-is-far-stronger-than-5-years-ago-fairytale-but-tied-the-room-together/
You are right, WD57, the Progressive-Statist destroy both, the collapse the economy by bureaucratization, and enslave, devalue, and diminish the human being with their social policies for total collapse.
Other that that, Will is channeling Robert Bork and Senator Patrick Daniel Moynihan....
Detroit, due to the riots and the anti-white policies of Coleman Young, experienced the loss of more than 50% of its white population in about 5 years. Then, Detroit experienced the further flight of the black middle class in the 1980s.
There was never a Hispanic influx or an Indian/Korean influx of any size, because their traditional areas of conomic entry did not exist.
Detroit is now more than 80% underclass.
Chicago has seen white flight and still retains a white middle class that has been stable for the last 25 years. Because enough whites stayed, the city now has substantial Mexican, Indian and Korean communities that are thriving.
The black community adopted the same hard, militant stance in Chicago that they did in Detroit but they were unable to put their own Coleman Young in power. Harold Washington died in office without a successor and was unable to inflict nearly as much damage as Young did in Detroit.
However, the price Chicago paid was to allow Young/Washington style demagogues to control the black South Side. The South Side has now become a small Detroit within Chicago - Chicago's population losses over the past 20 years have ome from the almost complete flight of the black middle class from the city.
The underclass now has no moderating influence - it is quickly collapsing.
Chicago is entering its next phase and can either decide in favor of self-preservation or to follow Detroit's example. So far it has been choosing self-preservation by not allowing a redux of Detroit's Poletown.