Rising Chicago deficit forecast raises eyebrows in muni market – The Bond Buyer

"Chicago's fiscal picture had improved in recent years, with pandemic relief funding and the city's choice to increase pension contributions bringing a series of rating upgrades."
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Old Spartan
1 year ago

You have to wonder about the competence of many of the folks quoted in this article. “The fiscal picture had improved” over the last few years? What? Don’t any of those folks follow the local news that made it crystal clear the only reason the “cash” position is any better is because of federal largesse in handing out Covid money, which of course the City used on almost 100% non-Covid expenses. There have been almost no meaningful budget cuts. The contribution to the pension funds is so small it is almost immaterial. The City is spending hundreds of millions of… Read more »

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