Category Archive 'Bankruptcy'

21 Jun 2017

Partitioning Illinois

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Illinois pols gave government employee unions the key to the vault and the state is now bankrupt and without a plan. John Kass has a modest proposal for what to do next.

Dissolve Illinois. Decommission the state, tear up the charter, whatever the legal mumbo-jumbo, just end the whole dang thing.

We just disappear. With no pain. That’s right. You heard me.

The best thing to do is to break Illinois into pieces right now. Just wipe us off the map. Cut us out of America’s heartland and let neighboring states carve us up and take the best chunks for themselves.

The group that will scream the loudest is the state’s political class, who did this to us, and the big bond creditors, who are whispering talk of bankruptcy and asset forfeiture to save their own skins.

But our beloved Illinois has proved that it just doesn’t deserve to survive.

So why not let our friendly neighbors like Indiana, Wisconsin, Iowa, Missouri and Kentucky just take the parts they want?

As you can see by the excellent “Kevorkian Illinois” map that accompanies this column, this plan is visionary.

The alternative is hell. Illinois hasn’t had a state budget for years. The state continues to spend money it doesn’t have, and the state’s credit ratings have dropped, increasing the cost of borrowing more money we don’t have to keep the rotten shebang going.

Bills pile up; Moody’s Investor Service says taxpayers are on the hook for $251 billion in unfunded public union pension liabilities.

Boss Mike Madigan, king of the Democrats who control things, wants tax increases but no real structural reform to bring stability to The Venezuela of the Midwest.

And the whispers of bankruptcy won’t help the average (remaining) taxpaying chumbolones like you and me who don’t want to leave our homes but who’ll get stuck with the bills.

Since our neighboring states are doing better, taking Illinois jobs and businesses and Illinois workers and taxpaying families, they might as well just take the rest of Illinois, too, dammit.

Wisconsin can have Chicago and begin calling it “South Milwaukee.”

Naturally, Chicago Mayor Rahm Emanuel will fight this. He needs a job. And he’ll most likely beg his friends at The New York Times and the Washington Post to write angry editorials to save him. And these will be full of concern for the republic and those dispossessed Midwestern salt-of-the-earth taxpaying Americans, as if.

Sadly, Wisconsin probably won’t want Rahm, either. So to spare hurt feelings, I propose carving out 40 acres around the mayor’s home so Rahm might be prince of his own country:

Rahmonia.

And Cook County Board President Toni “Taxwinkle” Preckwinkle will fight it, too, so she needs something to soothe her ambitions:

A grant of land as large as a case of the soda pop she taxes, so that she might stand on it and proclaim herself Queen of Taxwinkletopia.

If there are portions of Illinois that the other states don’t want, they may be left as federal territory, a wilderness where only the strong survive and peasants and friendly propagandists kneel and beg for crumbs.

RTWT

21 Jul 2013

Detroit’s Bankruptcy

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Mark Steyn admires what six decades of Progressive government has achieved.

By the time Detroit declared bankruptcy, Americans were so inured to the throbbing dirge of Motown’s Greatest Hits — 40 percent of its streetlamps don’t work; 210 of its 317 public parks have been permanently closed; it takes an hour for police to respond to a 9-1-1 call; only a third of its ambulances are driveable; one-third of the city has been abandoned; the local realtor offers houses on sale for a buck and still finds no takers; etc., etc. — Americans were so inured that the formal confirmation of a great city’s downfall was greeted with little more than a fatalistic shrug. …

[L]ate on Friday, some genius jurist struck down the bankruptcy filing. Judge Rosemarie Aquilina declared Detroit’s bankruptcy “unconstitutional” because, according to the Detroit Free Press, “the Michigan Constitution prohibits actions that will lessen the pension benefits of public employees.” Which means that, in Michigan, reality is unconstitutional. …

With bankruptcy temporarily struck down, we’re told that “innovation hubs” and “enterprise zones” are the answer. Seriously? In my book After America, I observe that the physical decay of Detroit — the vacant and derelict lots for block after block after block — is as nothing compared to the decay of the city’s human capital. Forty-seven percent of adults are functionally illiterate, which is about the same rate as the Central African Republic, which at least has the excuse that it was ruled throughout the Seventies by a cannibal emperor. Why would any genuine innovator open a business in a Detroit “innovation hub”? Whom would you employ? The illiterates include a recent president of the school board, Otis Mathis, which doesn’t bode well for the potential work force a decade hence.

Given their respective starting points, one has to conclude that Detroit’s Democratic party makes a far more comprehensive wrecking crew than Emperor Bokassa ever did. No bombs, no invasions, no civil war, just “liberal” “progressive” politics day in, day out. Americans sigh and say, “Oh, well, Detroit’s an ‘outlier.’” It’s an outlier only in the sense that it happened here first. The same malign alliance between a corrupt political class, rapacious public-sector unions, and an ever more swollen army of welfare dependents has been adopted in the formally Golden State of California, and in large part by the Obama administration, whose priorities — “health” “care” “reform,” “immigration” “reform” — are determined by the same elite/union/dependency axis. As one droll tweeter put it, “If Obama had a city, it would look like Detroit.”


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