Forum Post: The fall of Rahm Emanuel

Rahm Emanuel can't keep his own aides safe while on duty and he can't keep his own son safe in front of their family home. No wonder he has failed at keeping Chicago safe. He just doesn't "have it." The city needs to fund its failing police force, schools, and basic social programs, not double property taxes in order to pay $1 billion of annual interest to Rahm's megabank campaign donors.

Chicago needs an economic reset similar to Detroit's in order to shed its $30 billion debt load so the city can begin healing and rebuilding. It also needs an executive reset. Rahm is beholden to his bankster donors and refuses to do what is right. He is unqualified to be mayor of Chicago.

Unions fear a municipal bankruptcy would result in a reduction of pension benefits. Nothing could be further from the truth. Detroit's pensioners were largely unaffected by their city's restructuring. Additionally, Illinois state constitutional restrictions forbid any pension adjustments in bankruptcy court.

There would be ample cash flow from the $1 billion annual reduction in interest payments to cover any short-term pension shortfall. The logical long-term solution is for the public employees to negotiate a small pay raise post-bankruptcy and bail in their pensions.

Chicago city pensioners would not miss a dime. In fact, municipal bankruptcy would benefit the unions because hiring and pay freezes would come to an end. It would be nice to have the city working again.

Rahm Emanuel does not represent the interests of Chicago's citizens. He represents the economic interests of Chicago's municipal bondholders. His political agenda is directly opposed to the wellbeing of the city's residents, homeowners, and workers. Enough is enough. Rahm Emanuel has got to go.

Below, the New Yorker details the many failures of Rahm Emanuel as mayor of Chicago.

http://www.newyorker.com/news/daily-comment/the-sudden-but-well-deserved-fall-of-rahm-emanuel