Today we see that the latest bond offering from the Chicago Board of Education will be priced at over twice what a BBB offering demands. That is brutal. I still won’t touch that with a ten foot pole.
It is inevitable that the State of Illinois and City of Chicago and their organs will be having major financial issues, to say the least, within a year or two. It could be Detroit on an inter-galactic scale.
My question is this – why don’t the Republicans make the Democrats own these massive boondoggles? I understand that in Illinois, many of them are in on the fun – however, the State of Illinois, City of Chicago and Detroit have all been essentially run by Democrats for literally generations – and it is all blowing up.
Is the issue too complex for Joe Six Pack to understand or care about? Are the Republicans afraid to be held to a higher standard? I just don’t understand why they wouldn’t shout from the mountain tops at how much graft, corruption and incompetence it takes to completely tank a city with as much potential as Chicago and a State with so many potential positives as Illinois.