The latest attempt to hold back the tide. City bonds.

America's cities have a large minority population and are led by Democrats. Those who know what is going on expect financial chaos in these places. Sure enough. The more liberal (meaning leftist) an electorate, the closer it is to bankruptcy. Detroit, Chicago, Connecticut, Puerto Rico, California and Illinois are broke. Since, they are continuing to rack up deficits, their bankruptcy is only a matter of time.

The Democrat Party says it has a solution: have the Federal govt bail out these places. How? By printing the money. Granted that the Democrat Party is the home of the insane, it is quite obvious what they overlook. I. e. that the people of the world have some sense and know that by printing Dollars a US govt led by Democrats would reduce the value of the US Dollars that they hold as reserve currency.

In the meantime, Chicago plans to issue bonds that are guaranteed payment from sales tax revenues derived from the State of Illinois. Because payment is guaranteed, the bonds will have a higher rating and will cost the City less to service. The City will use the proceeds to pay off bonds with higher interest rate. Sounds good. Except that Chicago will continue to spend more than it takes in. So, these bonds only postpone the inevitable.