You're watching...
Radio host Carol Roth on the ongoing fiscal battle in Illinois and the rate of gun violence in Chicago.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
-- right out -- shall wait Illinois at a standstill -- can't borrow money it is a crisis cal Roth WGN radio.
It was -- -- and Illinois and she joins us now.
Yesterday there was supposed to they were trying to issue a bond trying to raise 500 million dollars they have -- cancel it.
Because the interest they would have to pay with just exalt -- couldn't afford it.
I'll -- now at a standstill.
-- able to pay bills and they can't borrow.
Well Stuart you know I've been in corporate finance for many years before -- was a radio host and I can tell you and a bond issue like this -- polled.
Even though the PR says it was because it was to expense them.
I'm telling you there were no buyers here the reality is I'd like to say we are the heartbeat of America but Illinois indeed dead -- of America and we need to get.
Serious about pension reform otherwise that we are going to be any real state of crisis.
-- Taliban not.
I mean they could not get pension reform through and they tried I mean do what plans on the -- they could not get it done.
The legislature I think that John was it last week or something they could not get anything done so I'm asking where to from here.
-- -- really tough situations -- obviously they're going to try and pass that back to the taxpayers back to the private sector.
Individuals -- working hard there are only so many more taxes -- can be extracted from the people of Illinois.
And there's going to be a massive -- -- -- at some point in time.
An Illinois is really a proxy for what's going on at -- federal level as well I'm hoping that the fact that they're saying that bond auction was polled.
I'm hoping that that will be the -- the catalyst they need to get serious but listen we've been down this road on a smaller scale before.
And there's always unwillingness to compromise here and it's a 100%.
The government pensions the union pensions government spending and it just means that stopped.
-- any hints that they will ask for help from the Fed's.
Well you know Rahm Emmanuel thirty trying to do that in terms of health -- he's already trying to shift that.
Back onto the federal health care system so I would say that that is -- tactic that they possibly will look for the problem and that the United States can't afford it either so at some point the the passing of the -- -- the stop with somebody because somebody have to pay for it and nobody has any money.
Carol a what do you stay there for a second I've got another -- this is a non financial story but it is very much Chicago related -- the -- Just one week after she performed president Obama's inauguration.
A teenager from Chicago was killed in a shooting.
The unintended victim of a stray bullets hobby -- Pendleton was with a group of friends at a park taking -- from the rain when a man opened fire on the group.
She was shot in the back.
The White House says that President Obama and his from his thoughts and -- as -- with the family.
Carol you live in Chicago.
I have to ask whack really is the president on this thought some -- with the family okay what else -- you do it.
We'll listen -- yet if he was going to be here -- that he'd have to be here every day because this story -- every day sometimes multiple times a day in Chicago we have over 500 people in the city who were killed last year and I'm sorry that no assault weapons ban.
No high capacity magazine band none of the things that they're talking about is going to solve this problem apparently have that -- has gotten.
Come on in Charles this is -- an opportunity for President Obama to show some leadership in this area are absolutely I've been very upset about this because you know we -- -- -- focused on guns NRA somehow become the most evil organization in America when in fact.
The -- overwhelming you know third largest percentage of victims of of this they're black people and over who overwhelming.
-- people killing them are black people.
And and is -- true violence epidemic the fact that the president hasn't spoken out as it is that it's it's a damn shame and you know I gotta tell you I think I -- -- I was gonna say -- don't and so on Saturday.
I think like nine people were murdered in there's -- woman named Shirley chambers.
Her youngest son was murdered he used the last of her four kids all four have been -- including a fifteen year old daughter.
For people who want family murdered wiped out at the violence epidemic.
Why I mean why is -- Chicago up in arms why isn't the -- I was black people would get up and arms we can't give the president a free pass because this is the true violence epidemic that's destroying this nation.
It's it's a huge problem the problem here is not -- a different kind of NG problem if they gain problem.
It is the Al the elephant in the room I wish somebody would stand up and say let's -- they -- with a terrorist organization they are terrorizing our street.
They are killing the the young kids of Chicago.
And so let's fix the real serious stand that will actually affect what's going on here instead of cosmetic policies about cosmetic -- -- okay we'll not let you.
-- and we see the president say something Angela do some things about what's going on in his hometown I'm really gonna agree on the -- Going to be doing is gonna do it every day he's gonna have to do it every single day what do every day in Chicago do it.
Yeah all right.
