Great news to go to bed thinking about.
Chicago has 420 billion in long-term debt that will never be paid...
Interestingly, they always like to bring up pension and health insurance issues for retirees. And, before the Free Republic gang jumps on my back to beat me up, I will freely acknowledge that..........YES.....those are 2 of the biggest issues.
The other two:
absolutely gross, malicious, greedy, corrupt, criminal, negligent mismanagement of city finances. Cronyism to the Nth Degree. Kickbacks. Fraud. Patronage jobs. Bloated payrolls. Incompetence....how else are these people supposed to get rich and take care of their nieces and nephews and girlfriends?
Spending on social services to keep their voting base alive, well and in the position to commit all sorts of voter fraud to keep the dreams of elected officials, alive and well funded. How much money does a city spend on taking care of illegals? Section 8? etc etc. I know most of that money comes from the Fed’s initially then some transfers over to the states. Well the cities then have to come up with the administrators, maintenance guys, upkeep, etc, to run those programs. Atlanta had the Atlanta Housing Authority. Every city has something like that.
California would not be California, as we now know it, if it weren’t for all its major cities being turned into cesspools. Chicago, forget about Chicago. Illinois in general is a lost cause. Too bad, because outside of Chicago, the state is about as RED as it gets.
union Pensions
So what? Unless the federal government is going to round up, try and hang the Chicago city council, and the Cook county commissioners, even bothering to mention it is mental masturbation.
L8r
Bump
With the criminal syndicate called the democrats leading the way.
JoMa
Infrastructure spending to the rescue! They will be saved with the largest and most expensive spending in comparison to states like Mississippi.
I know everyone here has been posting shovel ready job memes because we are principles over party.
Chicago’s combined Taxpayer Burden: $119,110,
New York City’s combined Taxpayer Burden: $85,600,
Los Angeles’ combined Taxpayer Burden: $56,390,
Philadelphia’s combined Taxpayer Burden: $50,120,
San Jose’s combined Taxpayer Burden: $43,120,
San Diego’s combined Taxpayer Burden: $35,410,
Dallas’ combined Taxpayer Burden: $33,490,
Houston’s combined Taxpayer Burden: $22,940,
San Antonio’s combined Taxpayer Burden: $16,660,
Phoenix’s combined Taxpayer Burden: $13,290.
= = = = =
So which cities are not Democrat dominated?
Poor Illinois. The rest of the state is tied to Chicago and will get dragged down by that giant cesspool in Cook County. Obviously there is no way Chicago’s pension promises can ever be paid but rest assured, the corrupt political machine there will steal every last nickel they can from the rest of the state to kick that can down the road for as long as they can before defaulting.
It’s pretty much the same for New York State. Oregon is in a similar situation with Portland and Washington State is too with Seattle. The rest of those 4 states would be OK minus each one’s largest city which is able to overpower the rest of the state.
The “cause’ is simple, Big Government corrupt Democrat elected officials.