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City of Chicago’s cash cushion
plummets, debt triples, arrests drop,
water use rises

Chicago Sun-Times, by Fran Spielman

Original Article

Posted By:brianod1, 7/28/2013 8:49:01 AM

Mayor Rahm Emanuel closed the books on 2012 with $33.4 million in unallocated cash on hand — down from $167 million the year before — while adding to the mountain of debt piled on Chicago taxpayers, year-end audits show. Last week, Moody’s Investors ordered an unprecedented triple-drop in the city’s bond rating, citing Chicago’s “very large and growing” pension liabilities, “significant” debt service payments, “unrelenting public safety demands” and historic reluctance to raise local taxes that has continued under Emanuel.

Comments:
....but we´re not the next Detroit

      


Post Reply  

Reply 1 - Posted by: Keekng, 7/28/2013 9:05:41 AM     (No. 9446293)

Rahm is doing fairly well as a obama trained lackey but if obama had been in charge the $33.4 Million would also be gone.

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Reply 2 - Posted by: secondtimelucky, 7/28/2013 9:15:48 AM     (No. 9446305)

it would appear that Richey Daley got out just in time...

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: sinic, 7/28/2013 9:19:49 AM     (No. 9446307)

FTA "historic reluctance to raise local taxes that has continued under Emanuel"
Yeah, THAT´S the ticket!!! Just like Motown...keep bleeding the working stiffs dry until they say Sayonara. Then all you´re left with is takers...and you´ve exhausted the other peoples money that you thought would never end. Idiots? No, actually they´re mentally ill

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Reply 4 - Posted by: Rakasha, 7/28/2013 9:22:01 AM     (No. 9446308)

I freely admit that I´m not a ´numbers´ person, however; approximately one million households using 885 million gallons of water per day means that each household uses 885 gallons per day. Even in a drought, I´m having a hard time imagining how an average home can use that much water in one day.

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Reply 5 - Posted by: WAN2, 7/28/2013 9:29:44 AM     (No. 9446324)

Cities are going broke for a good reason: the rest of us aren´t "supporting" them sufficiently. That will soon be remedied. This happens when Econ 101 is banned from the nation´s curriculum. But hey, school should be fun. And without challenges. Happy happy happy!

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Reply 6 - Posted by: kanphil, 7/28/2013 9:37:47 AM     (No. 9446335)

Detroit redux.

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Reply 7 - Posted by: antiquegolf, 7/28/2013 9:43:42 AM     (No. 9446349)

Article requres registration.

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Reply 8 - Posted by: uno, 7/28/2013 10:15:37 AM     (No. 9446392)

Yup. Chicago is following Detroit right down the Liberal sewer! We´ve finally run out or other people´s money, but trust me when I tell you, that won´t stop the hungry, greedy, Leftists when they finally turn their blind eyes to fly-over country to rob us in order to cover their losses. They go after money like pigs on the hunt for truffles!

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Reply 9 - Posted by: chicodon, 7/28/2013 10:26:24 AM     (No. 9446410)

Detroit? Nah, apples and oranges. It´ll never happen here. I´d say every major city experiencing white flight is equally vulnerable. No tax base = broke

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Reply 10 - Posted by: ROLFnader, 7/28/2013 10:28:03 AM     (No. 9446411)

Detroit writ larger.

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Reply 11 - Posted by: ida Lou Pino, 7/28/2013 10:32:22 AM     (No. 9446418)

This is so easy to fix.

Just eliminate the police department. Not only will it save a huge amount of money - - it will solve the problem of racial tensions by eliminating its main source.

Why am I the only one who can figure these things out?

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Reply 12 - Posted by: Deedo, 7/28/2013 10:48:08 AM     (No. 9446449)

Rahm wants to be President, you know.

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B-G1


 
Reply 13 - Posted by: shamus, 7/28/2013 10:50:31 AM     (No. 9446454)

West Detroit

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Reply 14 - Posted by: planetgeo, 7/28/2013 11:10:51 AM     (No. 9446481)

You´re all missing the obvious "solution" that will be used to "save" the Detroits/Chicagos...federal bailouts. Obama will not let them go under. He´s going to saddle all the rest of us with even more debt to keep those Big Blue cities rolling on the Democrat gravy train.

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Reply 15 - Posted by: oh-heck, 7/28/2013 11:17:29 AM     (No. 9446488)

Chicago is also suffering because of the Illinois decisions to raise taxes rather than reduce spending. You don´t need to move far to be outside the state of Illinois and yet be near the city.

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Reply 16 - Posted by: Blue-Z-Anna, 7/28/2013 11:56:03 AM     (No. 9446534)

I´m seeing some type of Federal Bail Out too.

It may take the form of subsidized ´infrastructure´ building with ´bonuses´ for compliance or some other bill which will be given a name intended to cleverly disguise it´s intent....or....slap it onto a defense bill.

"The Great American Cities Accountability and Prosperity Act"

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Reply 17 - Posted by: god of irony, 7/28/2013 12:08:37 PM     (No. 9446551)

It blows my mind why every Republican official is not out there putting the blame on democrats and their failed socialist policies.

It´s almost like they don´t want to be in power.

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R_DBL_B
  


 
Reply 18 - Posted by: strike3, 7/28/2013 12:15:50 PM     (No. 9446557)

You are so right, #11. I lived in that hellhole for a year and never have I seen such police corruption. The example is set in city hall and flows down from there.

I quickly decided that no job was worth living there.

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Reply 19 - Posted by: zephyrgirl, 7/28/2013 2:09:32 PM     (No. 9446686)

Please, please, please, let Rahmbo be in charge when Chicago runs out of money.

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Reply 20 - Posted by: SheikYerBooty, 7/28/2013 2:56:48 PM     (No. 9446742)

#17, it´s because RINOs are clueless clowns and weak cowards.

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Reply 21 - Posted by: Penney, 7/28/2013 3:08:39 PM     (No. 9446749)

Chicago´s debt TRIPLES?!!! How many times of, ´learning the hard way,´ must U.S. cities, states and now the entire country, experience when statist dem pols´ irresponsible leadership prevails? Over the dem years, everything demonstrably deteriorates, including the uniquely American culture. Taxpayers´ money goes through lefties´ greedy hands like water, ...unaccountable, ...just GONE!

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