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Chicago Projects $2 Billion Deficit
Through 2021 on Pandemic

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Posted By: AltaD, 9/1/2020 2:08:57 PM

Chicago faces a 2021 budget deficit of $1.2 billion as the coronavirus pandemic decimates the city’s revenue with businesses shut down due to social distancing while recent unrest hurt reopening efforts. Next year’s projected gap comes on top of a 2020 deficit of nearly $800 million for its corporate fund, which accounts for many of the services the city provides, (Snip) Lightfoot’s administration will likely need to cut headcount, control spending, refinance debt, borrow and ask for more federal aid. The city has not ruled out raising property taxes and is also looking at a personal property levy on computer leases, which may help raise money as telework expands.

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Reply 1 - Posted by: Miceal 9/1/2020 2:33:19 PM (No. 528119)
Pandemic? That is laughable. It's their "rat" administration and those that came before. Wake up Illinois, and Chicago...this is all on you. Fix it in November...
9 people like this.

Reply 2 - Posted by: snowoutlaw 9/1/2020 2:53:57 PM (No. 528130)
Says they will "need to cut headcount, control spending, refinance debt, borrow and ask for more federal aid. " Only one of these things will even be tried, want to bet which?
14 people like this.

Reply 3 - Posted by: DVC 9/1/2020 3:01:02 PM (No. 528133)
Driving out rich folks with outrageous taxes, ultra expensive cost of living and now unending violence isn't a sound strategy on running a city. The big cities are all committing suicide by Democrat. Elect the Dems, go farther and farther left, neglect the infrastructure until it begins to crumble, let the violent thugs run rampant and guess what? People LEAVE. Businesses LEAVE. Taxpayers LEAVE. Slowly at first, but then faster and faster.
10 people like this.

Reply 4 - Posted by: john56 9/1/2020 3:04:20 PM (No. 528135)
It would have only been $2.0 billion, but then they had to add the $100 million to buy all that paint to do those "Black Lives Matter" murals over all their streets.
9 people like this.

Reply 5 - Posted by: Jethro bo 9/1/2020 3:10:47 PM (No. 528141)
Just charge an exit tax. Probably cover the deficit in a week or two from fleeing Ex-Chicagoans.
5 people like this.

Reply 6 - Posted by: MickTurn 9/1/2020 3:39:28 PM (No. 528158)
How about the truth...all you Union Losers Pensions are GONE...Have fun getting in bed with Democraps!
2 people like this.

Reply 7 - Posted by: Catherine 9/1/2020 3:48:03 PM (No. 528166)
Pass the hat at the BLM and Antifa 'protests.' They are destroying everything. Let them pay for it. The citizens of this country don't owe them a cent for this.
4 people like this.

Reply 8 - Posted by: GoodDeal 9/1/2020 3:58:59 PM (No. 528170)
That's too bad. Shoulda thunk of that before jumping on the shut-down-the-economy-for-as-long-as-possible train. Only one solution I know of. Raise taxes on the rich. There, fixed it.
6 people like this.

Reply 9 - Posted by: bad-hair 9/1/2020 4:58:57 PM (No. 528209)
Didn't they just cut their police department by a billion ? 2 more should be easy pickings. Start with librarians' pensions because your schools don't teach kids to read.
2 people like this.

Reply 10 - Posted by: DrOstrow 9/1/2020 5:34:49 PM (No. 528242)
Yes folks. They are no doubt going to need 'federal dollars' - you know, the dollars that are 'federal' from the 'federal government' and therefore are FREE !! They ALWAYS talk of 'federal dollars', 'federal aid' 'federal whatever' as if it is not TAXPAYERS' DOLLARS !! It always comes out of the taxpayers pockets - whether it federal, state, or local 'berg' - it's taxpayers' money. Politicians always figure it they can just scam a wider audience the 'bite' won't be as bad and maybe no one will complain. Couped with the fact that we have a growing number of mostly young people as well as politicians who do not know or care a whit WHERE the money comes from just as long as it comes from 'somebody else' ! Tell'em not only 'no' but ......... ' N O, not now and not ever '
1 person likes this.

Reply 11 - Posted by: padiva 9/1/2020 8:11:24 PM (No. 528441)
What is wrong with living within your means? BTW, your beloved BO is going to expect you to pony up big bucks for his Prez Center.
0 people like this.

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