Every time we write about Chicago's debt crisis and liken it to that of pre-bankruptcy Detroit, we get pushback: Some readers cite this city's broader-based economy, its upscale appeal and its slower rate of population loss as proof that what happened in Michigan can't happen in Illinois.The great moments of one-party rule.
For a thousand reasons we hope the deniers are correct — although we do note that, as Detroit attests, unsettled citizens can abandon a gravely leveraged city much faster than it can retire its debts.
Great topics for the City Council to debate, yes? Alas, most aldermen would rather risk having swaths of Chicago devolve to Detroit-style pasture, bereft of city services, than demand that today's Chicago live within its revenues.
Lambs do like pasture.
Sunday, February 09, 2014
Chicago Tribune Editorial: Chicago Is Going Detroit Because There's No Opposition To It
The Chicago Tribune has an editorial warning Chicago residents: