Chicago is to Be The Largest US City To Declare Bankruptcy

serfserf Member Posts: 7,511 ✭✭✭
edited September 2019 in Politics
Sure seems that way soon! Maybe Elizabeth Warren can stomp over there and get elected and give them a bailout for those poor union workers!



The city of Chicago is in dire fiscal and financial straits with an almost billion dollar budget deficit, bonds rated at junk status or below, numerous extremely costly legal judgments, a shrinking tax base, and unfunded public pension liabilities to the tune of an astonishing $42 billion.

Since the days of Big Bill Thompson, Chicago has been a cesspool of graft and corruption. Can waving the magic wand of bankruptcy cure the city of almost 100 years of amoral governance?

Don't bet the farm on it.


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