Quote:
Originally Posted by the urban politician
Does anybody buy this talk that if Chuy is elected, Chicago will be the "next Detroit"? That seems a bit of an exaggeration.
|
I agree that it is an exaggeration, but the consequences aren't. We don't know what will happen because it's likely Illinois will go down with the ship as well. Then we are in magical economic fairy tale land where people can only guess what will happen. Remember the attitude of shear economic panic when the house was falling down on everyone's heads in 2008? Similar level of economic blindness here.
We shouldn't exaggerate the control of any politician on the issue because, honestly, I'm not even sure that Rahm and Rauner can head off this disaster. However I'm nearly certain Chuy will just slam on the gas and drive us off the cliff faster. At least Rahm is trying to fix the brakes. People severely underestimate the fiscal issues we face. We have a $500 million additional shortfall this year from the Firefighter's pensions ALONE. And any reform that is passed on any pension is likely to be struck down or at least mired in litigation for years. Even 100%+ increases in taxes won't cover the gap, this issue should not be understated.