Chicago facing 2024 budget shortfall of $538 million – Chicago Sun-Times

More than a third of that deficit can be attributed to the migrant crisis. Another $90 million comes from Mayor Brandon Johnson’s decision to get rid of an automatic escalator that would have increased property taxes to match the rate of inflation, and $45 million is the pension cost former mayor Lori Lightfoot intended to off-load to Chicago Public Schools to cover nonteaching employees who draw their retirement checks from the Municipal Employees Pension Fund.
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Indy
2 years ago

Pay up Chicagoans. Enjoy being taxed into poverty, homelessness and ruin.

Veterano
2 years ago

Deficit problem? The fools who voted for this should raise their hands and say “check please”.

Where's Mine???
2 years ago

Brandon can temporarily get away with blaming shortfall on lightweight. Also, the big unknown, even with migrant crisis the city still has big fed COVID $bucks$ left (+$1 bil??) that so many of Brandons friends (i.e. CTU) have their hands out for behind the scenes

Mr Peabody's Boy Sherman
2 years ago

Migrants, migrants, migrants. Hey taxpayers, we’re short $600 million so dig deeper into those pockets you fools.

Goodgulf Greyteeth
2 years ago

Now’s the time for BJ to get all the worst of it out, so he can blame Lightfoot for the budget he has to write.

Giddyap
2 years ago

If they admit this much of a deficit, it must be at least a billion or more

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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