Audit Disproves Chicago Mayor’s Claim the Budget Is Balanced – Chicago Contrarian

"Truth in Accounting CEO Sheila Weinberg shows us Johnson's smoke and mirrors. 'They only include the expenses they’ve paid, not all the expenses they’ve incurred. They also include loan proceeds as revenue and still claim the budget is balanced. In the real world, borrowing money to balance your budget would be insane. But in government budgeting, that’s how they do it,' Weinberg (said). ... She also pointed out Johnson didn’t properly report the city's pension bomb in his 'balanced' budget, either, and noted the city's unfunded pension liability is eight times bigger than the city's total payroll."
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The Railroader
3 months ago

The Useless Media excuses JB the Hutt from having to admit just how terrible Illinois finances really are. Even the stone-blind credit agencies are at last staring to take notice.

Call my shrink
3 months ago

Some day the people in this state will realized we have been lied to and cheated by this democratic run state and vote all of them out. With blues we lose. Vote red instead

Wally
3 months ago

I’m just wondering when the stuff is going to hit the fan?Unbalanced budgets state and city, huge unfunded pension debt, difficulty in borrowing because of poor bond ratings, declining population and tax base, terrible public education, and debt all over the place. When are checks going to bounce, especially for retirees? When are vendors going to stop offering credit? Finally, are the voters snoozing?

mqyl
3 months ago
Reply to  Wally

Many Illinois voters either don’t know, don’t care, or refuse to believe what’s going on. That’s a big impediment to change for the better in Illinois.

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