Another Conehead Milestone

Or maybe that should be "millstone." As in a heavy weight tied around the necks of taxpayers:

• A Wall Street rating agency on Tuesday assigned an A- bond rating to Mayor Brandon Johnson’s upcoming plan to borrow more than $600 million for infrastructure, housing and economic development, but revised the outlook to “negative,” signaling a future downgrade.

  Fitch said the negative outlook is “driven by a lack of substantial progress procuring permanent, high-impact solutions” to a structural budget gap of $1.12 billion — 20% of the corporate fund — that could get worse if Chicago loses even a portion of the $3 billion in federal funding on the chopping block.

  At the least, that could result in “additional dependence on non-recurring solutions, including higher than expected draws on reserves,” the rating agency said. “The city continues to pursue new revenue streams that require state or voter support, which do not appear to be forthcoming in the near term.

Leftists are always fond of saying, "You can't arrest your way out of a high crime environment." They say this because they do everything in their power to hamstring the cops, corrupt the court systems, and shutter the prisons, then act surprised when things get bad.

We'd also point out that anyone with a basic understanding of Econ 101 knows that "You can't tax your way out of a failing economic system." Eventually, everyone who can afford to leave packs up and moves away. Those left behind are the ones least able to absorb the constant tax hikes, increasing fines and losing opportunities every time another company shuts down or relocates.

It's a "doom loop" and Conehead is accelerating it.