Chicago; The good news is it's sustainable, the bad news is it's broke

Did you ever notice that the most poorly run and cash strapped cities all have an office of sustainability? As far as urban financial stability is concerned , the twenty-first deserves more than the thirteenth century to be called the Age Of Faith.

The Sustainable Chicago action plan offers concrete initiatives, metrics, and strategies aimed at advancing Chicago’s goal of becoming the most sustainable city in the country. From improving citywide energy efficiency and promoting diversified transit options, to launching citywide recycling, the roadmap is robust and comprehensive, touching upon the full spectrum of life for Chicagoans, whether at home, at work, on our streets or in our parks.

In a post earlier this week I noted that the city of the Big Shoulders had to float a bond issue just to pay off its legal bills arising from police misconduct. Not to worry the city has a 7 point sustainability plan that will do everything but pay the bills. Chicago has tripled its debt from 2002 to 2012, has a per capita indebtedness of $20,000, and is facing a $590 million payment for retirement obligations due next year that will force cuts in almost every public service from garbage collection to police and fire protection that it cannot possibly pay without a state bailout. It doesn't help sustainability much that the state of Illinois has the lowest credit ranking of all states. The $590 million that was supposed to be paid into retirement plans was spent instead on capital improvements and operating expenses such as the goddam office of sustainability.

And having answered so I turn once more to those who
     sneer at this my city, and I give them back the sneer
     and say to them:
Come and show me another city with lifted head singing
     so proud to be alive and coarse and strong and cunning.

“The legislature and the City Council and the mayor need to come to fiscal reality and recognize this is not sustainable,” said Laurence Msall, president of the Civic Federation, a nonprofit research group based in Chicago. “They’ve created a bigger problem down the road, and now we are down that road. And there is very little road left.”
Among the 25 most populous cities in the US Chicago ranks first-in debt. Its per capita debt is nearly twice that of bankrupt Puerto Rico. Moody’s Investors Service has cut its rating to A3, six notches below the top AAA but yet all the city hears from its leadership is inane prattle about concrete initiatives, metrics, and strategies. Chicago is not Detroit yet but unless it is willing to make sacrifices there is no other outcome. It has placed itself in a death spiral. If it cuts city services the most affluent will leave leaving fewer tax dollars that will force more cuts and more out migration of the affluent. Presently Chicago has diverse economy, a stable population and a considerable tax base but all that will go if it cannot elect competent leadership. The voters always get what they deserve.