Step back for a moment and consider that $1.3 billion in Chicago's total interest expense in 2020. This is a massive debt load, far higher on a per capita basis than most other cities. How much total interest expense will the City of Chicago incur in 2023? We probably won’t know, even after the City issues its financial statements, because the city stopped providing the number.
JP….is doing such a good job with BJ right on his heels!
Veterano
1 year ago
As this city’s finances go, so go the finances of its residents apparently. WalletHub did a study of large American cities’ residents’ credit strength ranking them based upon the following characteristics: · Credit score, including average score for the fourth quarter of 2023 and the year-over-year score · People with accounts in distress, as of the fourth quarter and year-over-year change · Average number of accounts, as of the fourth quarter and year-over-year change · Change in bankruptcy filings, December 2023 vs. December 2022 · “Debt” search interest index · “Loan” search interest index The “worst” – Chicago. You can review the summary at… Read more »
Maybe some 17 yo offered extra credit for a CPS course?
Harry Loungabow
1 year ago
The number is not listed or reported because
Zippy probably gets the vapors when he sees
It. Poor,poor Zippy
Willowglen
1 year ago
I am perplexed why this number isn’t publicly available. Rating agencies should know the number with some certainty. Given the rise in interest rates, it wouldn’t be surprising to see interest costs at $2B. In a 16.6B budget, that is a significant carrying cost.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
JP….is doing such a good job with BJ right on his heels!
As this city’s finances go, so go the finances of its residents apparently. WalletHub did a study of large American cities’ residents’ credit strength ranking them based upon the following characteristics: · Credit score, including average score for the fourth quarter of 2023 and the year-over-year score · People with accounts in distress, as of the fourth quarter and year-over-year change · Average number of accounts, as of the fourth quarter and year-over-year change · Change in bankruptcy filings, December 2023 vs. December 2022 · “Debt” search interest index · “Loan” search interest index The “worst” – Chicago. You can review the summary at… Read more »
Who’s the moron proving the down thumbs.
you said it a MORON
The same one that loves raising our taxes.
Maybe some 17 yo offered extra credit for a CPS course?
The number is not listed or reported because
Zippy probably gets the vapors when he sees
It. Poor,poor Zippy
I am perplexed why this number isn’t publicly available. Rating agencies should know the number with some certainty. Given the rise in interest rates, it wouldn’t be surprising to see interest costs at $2B. In a 16.6B budget, that is a significant carrying cost.
Because they want to keep us stupid so they can keep up the bs