Posted on 10/15/2015 5:08:14 AM PDT by Cincinatus' Wife
..........It is not Emanuels fault that Chicagos three largest employers, after the federal government, are the public-school system, the city government, and Cook Countys government. Although Emanuel is a product of the Chicago politics that made Barack Obama, the crisis brought on by such politics now requires Emanuel to take many measures to make Chicago an exception to the nations economic lethargy under Obama. Emanuels taskcondign punishment for any Democratis to salvage the blue model by making the private sector dynamic enough to generate tax revenues sufficient to fund improvident public contracts and their pension promises. Hence Emanuels focus on K12 education.
A circle with a radius of 275 miles from Chicagos Loop includes nine Big Ten campuses (and the University of Chicago, Notre Dame, and many others) that furnish a steady stream of graduates drawn to urban life. The challenge is to hold these taxpayers in the city when they have school-age children. Hence Emanuels enthusiasm forscarcity can be the mother of couragecharter schools, which horrify the Democratic partys paymasters in the teachers unions.
Emanuel and the citys school system,the nations third-largest, want aid from the state. This is, as the Heritage Foundations Stephen Moore says, like Puerto Rico begging from Greece. Although state pension payments have grown from $60 million to more than $650 million since 2006, Illinois still ranks 50th among states in the lowest percentage of funded pension obligations(47.1). After 13 downgrades in six years, Illinois, which is not paying many of its vendors or even winners of the state lottery, is 50th among the states in credit rating.
After Illinoiss supreme court strictly construed the state constitutions provision that public pensions shall not be diminished or impaired, Moodys downgraded the city, raising the cost of borrowing. Because diminishment is not possible, some increased revenue is not optional.....
(Excerpt) Read more at nationalreview.com ...
Or just don’t pay them. They are nothing but promises made to liberal bureaucrats. To hell with them all.
Remember when liberal senator Howard Metzenbaum of Ohio moved to Florida right before he croaked to avoid the state death tax? Libs have no shame.
Chicago, particularly its south side is the crossroads of drug traffic in the USA. The gang wars and shootings and random murders will never stop until that scourge is removed.It is not bloody likely under Rahm or any of his appointees. In the meantime, as real citizens emigrate Chicago's tax base declines and it devolution into a third world hell hole of violence and corruption moves ahead. IMHO its inevitable.
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