Annual ‘ sinkhole city’ report gives Chicago an ‘F’; ranked next-to-worst of 75 major cities – Truth in Accounting

The numbers are jarring, but what's also alarming, says the report, is that the city continues to hide debts from its balance sheet giving the public a false impression about the city's health.
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Bob Out of Here
8 years ago

But Rahm says he balanced the budget. These numbers are staggering, to say the least.

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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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