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April 26th, 2012 
FAKE NEWS for the Zionist agenda Mayor Emanuel’s Chicago Infrastructure Trust (CIT) is now law.
Laura and I have prepared an infographic showing how it works.
Much ink has already been spilled on CIT — its status as the first city-based infrastructure bank in the U.S., multisector scope, commitment by institutional investors such as Citi and Ullico, ambitious first tranche of retrofits, concerns over institutional accountability and project transparency, drive to turn the page on a previous generation of poorly structured partnership deals, etc.
However, surprisingly little has been said about Mayor Emanuel’s economic philosophy — what he’s up to with CIT. The pundits treat Rahm Emanuel as simply a transactional guy in a hurry.
Today, economists such as Paul Krugman and pundits like Rush Limbaugh share a concern that the United States is entering into a Japanese-style lost decade. For Krugman, the answer is more government spending, for Limbaugh less.
Mayor Emanuel, however, is advancing an economic philosophy distinct from both these positions. America — and Chicago — has just lived through its own “lost decade.” CIT is the governing strategy for rapidly accelerating out of the malaise.
The mayor points out, in fact, that Chicago has neglected its infrastructure for nearly four decades. As a result, it cannot hope to compete with places in East Asia and Germany for businesses. Job-producing firms go where energy and water are cheap. Manufacturers need state-of-the-art logistics to bring raw materials into their plants and then finished products to global markets. Moreover, Chicago must be a high-capacity transportation hub for the sake of regional growth.
CIT is a way of building a competitive resilient 21st-century infrastructure platform for global businesses.
If Chicago builds this infrastructure, then business will come.
However, after decades of neglect and divestiture, this state-of-the-art infrastructure’s going to cost us.
The mayor is not a big government guy, but he does believe in infrastructure-driven economic growth as essential to broadening opportunity. He created CIT so that Chicago can build out its
platform by partnering with institutional investors such as pensions, insurers, endowments, sovereigns, private equity, etc.
Co-authored with Laura Noren, NYU’s Center on Law Public Finance
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