Chicago, under the control of Democrats, continues to outdo itself by instituting asinine economic policies that embarrass the citizens of Illinois. The Treasurer of the city of Chicago is Melissa Conyears-Ervin. This intellectually challenged Democrat is upset that President Trump sent ICE agents into the streets of Chicago to arrest criminals.
How does this genius intend to protest Trump’s policies? This Chicago Treasurer intends to show her antipathy towards Trump by boycotting the purchase of US Treasury notes by the City of Chicago. You really cannot make this up!
The City of Chicago’s budget is a fiscal mess with a projected deficit of over a billion dollars. The City also has a $53 billion underfunded pension debt. The Mayor of Chicago, another Democrat genius, is attempting to force the City of Chicago to take a high interest loan to pay for City debt.
Chicago’s debt has been downgraded by the rating agencies. The City is hemorrhaging businesses that are leaving because of the incompetence of the political leadership. At a time that stability is needed on the City’s balance sheet, the Democrat Treasurer is refusing to put Chicago’s cash in one of the world’s safest investments.
If you are a corporation deciding to allocate resources, you would be very wary of ever investing in a City or State that had a leader with this lack of financial literacy. This Treasurer is putting the finances of Chicago at greater risk in order to protest against Trump.
Many of America’s cities are run by Democrats that consistently demonstrate a lack of economic intelligence. It is sad to see the “NO KINGS” movement support this type of leadership just because they have lost their perspective on President Trump. Chicago was a great city but unless drastic measures are taken, it will be a decaying city that pines for its old days of glory.
Bob Spencer
Publisher
Manatee Herald
publisher@manateeherald.com
