CHICAGO DEBT DOWNGRADED TO NEAR JUNK STATUS

AP: Moody’s Investors Service has downgraded Chicago’s credit rating, citing the city’s unfunded pension liabilities.

The agency announced Tuesday it’s lowering the rating on $8.3 billion in debt from A3 to Baa1, putting it only three notches above junk-bond status....
... The lower rating means the city will have to pay high interest rates.
Moody’s says a commitment to increasing tax revenue is one thing that could raise the rating. Chicago now has the worst credit rating of any major city except Detroit.

WHEN YOU FOLLOW LEFTIST POLICIES, THIS IS THE PENULTIMATE STOP ON THE ROAD TO SERFDOM.

WHAT HAPPENED TO DETROIT IS HAPPENING TO CHICAGO - AND WILL HAPPEN TO THE USA IF WE DO NOT CHANGE COURSE.

WE CAN CHANGE COURSE THIS NOVEMBER.

IN FACT, IT'S NOVEMBER OR NEVER.