Forget welfare. Food stamps are so yesterday. The latest rage amongst the socialist political set is Universal Basic Income, or UBI.
Ever since the subject was broached by Mark Zuckerberg in his Harvard commencement speech, leftists have flocked to the idea like, well, you know.
The Times adds that, “Chicago’s position at the bottom of the ranking is no surprise to anyone who follows municipal finance. The Windy City has become a poster child for financial mismanagement, having suffered a series of ratings downgrades in recent years. Aside from having thin reserves and large volumes of outstanding debt, Chicago is notorious for its underfunded pension plans.”