Ted appeared on Chicago Tonight with Laurence Msall of The Civic Federation and Michael Belsky of the University of Chicago’s Harris School of Public Policy to discuss the problems with Mayor Lori Lightfoot’s upcoming 2020 budget proposal.
Ted said that most pundits and politicians only talk about the taxes they say she’ll need to close the city’s $838 million budget gap. None of them are defending ordinary Chicagoans from more unaffordable hikes. “We’ve got a shrinking city that’s already junk rated – and so is CPS. And we’ve got home values that are negative when you take inflation into account. When you keep taxing more and not have Lightfoot using the bully pulpit to call for major reforms out of Springfield, I think it spells more trouble.”
Read more about Chicago’s financial crisis:
- Chicago’s Pitch For New Bond Refinancing Is Mighty Fishy
- Chicago teachers strike: Why is no one talking about pensions?
- Here is the list of benefits Mayor Lightfoot is offering to the teachers’ union and why it’s terrible for Chicagoans
- Why Chicago’s Lightfoot should push for a pension amendment, not tax hikes