topic Re: Credit rating downgraded again in Community Chat

Credit rating downgraded again

hyacinth003 — Wed, 05 Mar 2014 22:24:10 GMT

Referring to the city of Chicago. It's credit rating has been downgraded from A3 to Baa3.

It now stands a few points above "junk" status. It is the worst city rating aside from Detroit.

The average Cook County resident is in $61,000 debt. If pensions are added, it is $84,000 they would be on the hook for.

The population is now lower than in 1920. Higher taxes will just cause more residents to flee.

Another once great city in a lot of trouble.

Sources: NY Times, Chicago Tribune, CNN Money, multiple

Hyacinth

Re: Credit rating downgraded again

tansy — Wed, 05 Mar 2014 22:33:36 GMT

Any idea how to get a once great city back on its feet?

Re: Credit rating downgraded again

JaneMarple — Wed, 05 Mar 2014 22:36:15 GMT

On 3/5/2014 tansy said: Any idea how to get a once great city back on its feet?

Get ready tansy, you asked for it.

Re: Credit rating downgraded again

mgm2 — Wed, 05 Mar 2014 22:36:45 GMT

Hyacinth, can you tell us 10 good things about Chicago?

Re: Credit rating downgraded again

tansy — Wed, 05 Mar 2014 22:36:51 GMT

Okay. I'll put on my helmet.

Re: Credit rating downgraded again

hyacinth003 — Wed, 05 Mar 2014 22:37:23 GMT

On 3/5/2014 tansy said: Any idea how to get a once great city back on its feet?

I have lots of ideas!!

But saying them would get my post removed, so I won't.

Hyacinth

Re: Credit rating downgraded again

evelomaddict — Wed, 05 Mar 2014 22:39:43 GMT

what a shame.

Re: Credit rating downgraded again

tansy — Wed, 05 Mar 2014 22:39:58 GMT

On 3/5/2014 hyacinth003 said:
On 3/5/2014 tansy said: Any idea how to get a once great city back on its feet?

I have lots of ideas!!

But saying them would get my post removed, so I won't.

Hyacinth

Then why post, hyacinth?

Re: Credit rating downgraded again

mgm2 — Wed, 05 Mar 2014 22:41:38 GMT

From what I've learned from history, Chicago for one reason or another, has ALWAYS been in the toilet.

Re: Credit rating downgraded again

Irshgrl31201 — Wed, 05 Mar 2014 22:42:38 GMT

On 3/5/2014 tansy said:
On 3/5/2014 hyacinth003 said:
On 3/5/2014 tansy said: Any idea how to get a once great city back on its feet?

I have lots of ideas!!

But saying them would get my post removed, so I won't.

Hyacinth

Then why post, hyacinth?

So only posts that contain solutions are allowed. I will remember that for future posts.

Re: Credit rating downgraded again

evelomaddict — Wed, 05 Mar 2014 22:43:35 GMT

i don't see detroit ever coming back.

Re: Credit rating downgraded again

Marianne1 — Wed, 05 Mar 2014 22:44:22 GMT

On 3/5/2014 Irshgrl31201 said:
On 3/5/2014 tansy said:
On 3/5/2014 hyacinth003 said:
On 3/5/2014 tansy said: Any idea how to get a once great city back on its feet?

I have lots of ideas!!

But saying them would get my post removed, so I won't.

Hyacinth

Then why post, hyacinth?

So only posts that contain solutions are allowed. I will remember that for future posts.

I think tansy was leaning toward why post if you are not going to discuss, not that she needed a solution right off the bat.

Re: Credit rating downgraded again

hyacinth003 — Wed, 05 Mar 2014 22:45:34 GMT

On 3/5/2014 evelomaddict said:
i don't see detroit ever coming back.

Sadly, you may be right.

I think Chicago has more going for it, but it can get worse too.

Hyacinth

Re: Credit rating downgraded again

JaneMarple — Wed, 05 Mar 2014 22:46:29 GMT

On 3/5/2014 mgm2 said:
From what I've learned from history, Chicago for one reason or another, has ALWAYS been in the toilet.

Corruption and crime didn't just start this century.

Re: Credit rating downgraded again

evelomaddict — Wed, 05 Mar 2014 22:46:37 GMT

On 3/5/2014 Irshgrl31201 said:
On 3/5/2014 tansy said:
On 3/5/2014 hyacinth003 said:
On 3/5/2014 tansy said: Any idea how to get a once great city back on its feet?

I have lots of ideas!!

But saying them would get my post removed, so I won't.

Hyacinth

Then why post, hyacinth?

So only posts that contain solutions are allowed. I will remember that for future posts.

pretty much. the political divide on this forum mirrors our government, which is why nothing ever gets done. .

Re: Credit rating downgraded again

tansy — Wed, 05 Mar 2014 22:48:02 GMT

On 3/5/2014 Marianne is complicated said:
On 3/5/2014 Irshgrl31201 said:
On 3/5/2014 tansy said:
On 3/5/2014 hyacinth003 said:
On 3/5/2014 tansy said: Any idea how to get a once great city back on its feet?

I have lots of ideas!!

But saying them would get my post removed, so I won't.

Hyacinth

Then why post, hyacinth?

So only posts that contain solutions are allowed. I will remember that for future posts.

I think tansy was leaning toward why post if you are not going to discuss, not that she needed a solution right off the bat.

Marianne understood my question, hyacinth.

Re: Credit rating downgraded again

QueenDanceALot — Wed, 05 Mar 2014 22:51:03 GMT

On 3/5/2014 tansy said: Okay. I'll put on my helmet.

I just pulled on my vest!

Re: Credit rating downgraded again

chumlee_ — Wed, 05 Mar 2014 22:52:05 GMT

On 3/5/2014 evelomaddict said:
i don't see detroit ever coming back.

I do! We see improvements all the time. It isn't going to happen overnight, but with combined resources in the area it will happen. The residents of Detroit are fed up and have taken steps to improve the city. The State has taken over management of Belle Isle (an island park) and we can see how it has improved in a matter of weeks. Will it ever be the boom city of days gone past? Probably not, but it will be a welcoming, clean and vital, albeit smaller, city! cheers! chum

Re: Credit rating downgraded again

deepwaterdotter — Wed, 05 Mar 2014 22:54:09 GMT

On 3/5/2014 mgm2 said:
Hyacinth, can you tell us 10 good things about Chicago?

My "10 good things" would be:

Willis (formerly Sears) Tower

Buckingham Fountain and the Bean

Portillo hot dogs and Al's Italian beef

Museum of Science and Industry

Shedd Aquarium

Lou Malnatti deep-dish pizza

Second City Comedy Club

Wrigley Field and Soldier Field

The Art Institute

The 'El'

Re: Credit rating downgraded again

hyacinth003 — Wed, 05 Mar 2014 22:54:10 GMT

On 3/5/2014 chumlee_ said:
On 3/5/2014 evelomaddict said:
i don't see detroit ever coming back.

I do! We see improvements all the time. It isn't going to happen overnight, but with combined resources in the area it will happen. The residents of Detroit are fed up and have taken steps to improve the city. The State has taken over management of Belle Isle (an island park) and we can see how it has improved in a matter of weeks. Will it ever be the boom city of days gone past? Probably not, but it will be a welcoming, clean and vital, albeit smaller, city! cheers! chum

That's fabulous!! I hope it just gets better and better.

With the loss of so much auto business, it was just sad.

What's good for Detroit is good for all of us.

Hyacinth