The Fall of Chicago. There Will Be No Economic Recovery.
Stefan Molyneux lays out the facts which point to a very dismal future for Chicago. Detroit declared bankruptcy, but the Illinois Constitution prevents Chicago from doing the same. Chicago spends far more than it takes in through taxes, which are already very high. Its bond ratings are approaching junk status, meaning the gap between income and expenses will widen further. Unfunded pension liabilities are exploding.
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