Tuesday, March 03, 2015

Sen. Kirk: Re-elect Rahm or Chicago could end up like Detroit

The Chicago Sun-Times reports:
Chicago could follow Detroit into bankruptcy if Mayor Rahm Emanuel is not re-elected, Sen. Mark Kirk (R-Ill.) warned Monday.

Without mentioning Jesus “Chuy” Garcia by name, Kirk said Emanuel’s challenger lacks the “gravitas with the bond market” to secure Chicago’s mountain of debt and prevent Chicago from going the way of Detroit, which recently emerged from bankruptcy.

“Rahm’s re-election is essential to maintaining the value of Chicago’s debt market. We need a strong capable leader… I would worry about the value of the Chicago debt if Rahm was not re-elected…. It’s a concern if we have some of the less responsible people running against him,” Kirk said.
Two parties, one ideology in Illinois .