Sunday, November 03, 2013

Nothing Says "Compassion" Quite Like Blowing Our Kids' Money

The Chicago Tribune has a must-read piece today on the Windy City's massive debt problem. They've borrowed and borrowed and borrowed and it turns out they've been spending the money on normal operating expenses. That's like using your credit card to buy groceries week after week and not paying it off.

Chicago. Because Detroit was lonely being the only big city to declare bankruptcy.
I don't have time to do this right now, but an interesting graphic would be to take the debt projections for Chicago and mark the years when the city leaders retire and then also mark typical life milestones for someone who is currently, say, 22 years old - marriage, kids, buying a house, etc. It might bring home the point that Rahm Emmanuel and Richard Daley will be gone and on our kids' tab when the debt bomb goes off.

I wonder when the youth of America will get wise. Soon, I hope.

1 comment:

Mostly Nothing said...

Illinois is killing themselves. Doubling corporate taxes is driving businesses out of the state. My brother is looking to relocate his business now.