Chicago's teetering debt is stark warning left-wing mayor is fueling 'pay later' doom cycle: expert

[DonGlock26]

"Chicago's teetering debt is stark warning left-wing mayor is fueling 'pay later' doom cycle: expert


Austin Berg of the Illinois Policy Institute says Mayor Brandon Johnson's $830M bond deal, with no principal payments for 20 years, mirrors a notorious parking meter blunder.


Chicago Mayor Brandon Johnson and his administration are presiding over a city in serious financial straits.

Chicago, the nation’s third-largest city, is facing a corporate fund budget gap of more than $1 billion, while its 2025 fiscal year is projected to close with a roughly $150 million deficit with about two-fifths of the budget going toward debt service and pension costs.

Johnson said in April the city was "at a crossroads" and had to "essentially do more with less," while simultaneously slamming the Trump administration for reportedly threatening federal funding, calling it a "different scenario we weren’t under before.""

Chicago's teetering debt is stark warning left-wing mayor is fueling 'pay later' doom cycle: expert

Expert Austin Berg warns Chicago's "pay later" debt culture under Mayor Brandon Johnson is alarming markets with a $1 billion budget gap and risky bond deals.

www.foxnews.com

Democrat ruled Chicago is in a debt death spiral. Maybe Democrat ruled Illinois can bail out Chicago? Nope, they are in their own debt death sprial.

 

[80zephyr]

Nothing but interest payments for 20 years.

WOW.

 

[Independent thinker]

"Chicago's teetering debt is stark warning left-wing mayor is fueling 'pay later' doom cycle: expert


Austin Berg of the Illinois Policy Institute says Mayor Brandon Johnson's $830M bond deal, with no principal payments for 20 years, mirrors a notorious parking meter blunder.


Chicago Mayor Brandon Johnson and his administration are presiding over a city in serious financial straits.

Chicago, the nation’s third-largest city, is facing a corporate fund budget gap of more than $1 billion, while its 2025 fiscal year is projected to close with a roughly $150 million deficit with about two-fifths of the budget going toward debt service and pension costs.

Johnson said in April the city was "at a crossroads" and had to "essentially do more with less," while simultaneously slamming the Trump administration for reportedly threatening federal funding, calling it a "different scenario we weren’t under before.""

Chicago's teetering debt is stark warning left-wing mayor is fueling 'pay later' doom cycle: expert

Expert Austin Berg warns Chicago's "pay later" debt culture under Mayor Brandon Johnson is alarming markets with a $1 billion budget gap and risky bond deals.

www.foxnews.com

Democrat ruled Chicago is in a debt death spiral. Maybe Democrat ruled Illinois can bail out Chicago? Nope, they are in their own debt death sprial.

I thought states and localities had to stay within their budgets?

 

[task0778]

I thought states and localities had to stay within their budgets?

Probably finding ways to cook the books, lying about the real cost and also the real expected revenue. Typical pols, kicking the can down the road but I would think they are about to run out of road.

I hafta say, this is what worries me: deep blue cities and states will be screaming for federal bailouts and if the democrats ever gain control of the Congress and the WH, they'll get it. They'll abolish the filibuster so they'll only need 50%+1 rather than 60 votes, and there you go.

 

[Votto]

I thought states and localities had to stay within their budgets?

Government means never having to care about debt.

And at the end of the day, when it all falls apart, blame the free market and take everyones money and rights away as they attempt to "fix" the problem they created.

I have come to believe that fraud alone within government is the driving force behind all this debt. Just look at the fraud cases regarding Samali day cares that have all the same address and consume billions of dollars of tax dollars, or California's high-speed rail that has never been built some $40 billion later, or even the homeless and medical welfare where money cannot be accounted for.

Not only are politicians getting rich off of illegal immigrants and the homeless and people without medical insurance, they are probably greasing the pockets of anyone who might blow the whistle on them and hold them to account

If so, how can this be stopped? They will only seek to make homelessness and illegal immigration worse, in order to siphon off more tax dollars.

 

[Independent thinker]

Probably finding ways to cook the books, lying about the real cost and also the real expected revenue. Typical pols, kicking the can down the road but I would think they are about to run out of road.

I hafta say, this is what worries me: deep blue cities and states will be screaming for federal bailouts and if the democrats ever gain control of the Congress and the WH, they'll get it. They'll abolish the filibuster so they'll only need 50%+1 rather than 60 votes, and there you go.

Wouldn't surprise me if these cities and states needing bailing out from the federal government that many Republicans would be on board with that.

 

[Independent thinker]

Government means never having to care about debt.

And at the end of the day, when it all falls apart, blame the free market and take everyones money and rights away as they attempt to "fix" the problem they created.

I have come to believe that fraud alone within government is the driving force behind all this debt. Just look at the fraud cases regarding Samali day cares that have all the same address and consume billions of dollars of tax dollars, or California's high-speed rail that has never been built some $40 billion later, or even the homeless and medical welfare where money cannot be accounted for.

Not only are politicians getting rich off of illegal immigrants and the homeless and people without medical insurance, they are probably greasing the pockets of anyone who might blow the whistle on them and hold them to account

If so, how can this be stopped? They will only seek to make homelessness and illegal immigration worse, in order to siphon off more tax dollars.

Yeah, I've been hearing for years that these places were forced to operate within their budget then I keep on hearing how several of their budgets have been busted and nothing seems to happen. It continues on business as usual.

 

[IM2]

You support a president who used tax abatements to build.

Entire red states stay in debt.

STFU.

 

[Votto]

You support a president who used tax abatements to build.

Entire red states stay in debt.

STFU.

Trump worked the system for his own benefit instead of allowing others to benefit like insider trading Nancy Pelosi?

The hell you say!

Make him stop, Nancy needs more money!!!

 

[Doc7505]

Nothing but interest payments for 20 years.

WOW.

<~~~~~~~~~~>
Only in the world of Marxist Democrat ideology, evreyone else need not apply.

 

[Augustine_]

"Chicago's teetering debt is stark warning left-wing mayor is fueling 'pay later' doom cycle: expert


Austin Berg of the Illinois Policy Institute says Mayor Brandon Johnson's $830M bond deal, with no principal payments for 20 years, mirrors a notorious parking meter blunder.


Chicago Mayor Brandon Johnson and his administration are presiding over a city in serious financial straits.

Chicago, the nation’s third-largest city, is facing a corporate fund budget gap of more than $1 billion, while its 2025 fiscal year is projected to close with a roughly $150 million deficit with about two-fifths of the budget going toward debt service and pension costs.

Johnson said in April the city was "at a crossroads" and had to "essentially do more with less," while simultaneously slamming the Trump administration for reportedly threatening federal funding, calling it a "different scenario we weren’t under before.""

Chicago's teetering debt is stark warning left-wing mayor is fueling 'pay later' doom cycle: expert

Expert Austin Berg warns Chicago's "pay later" debt culture under Mayor Brandon Johnson is alarming markets with a $1 billion budget gap and risky bond deals.

www.foxnews.com

Democrat ruled Chicago is in a debt death spiral. Maybe Democrat ruled Illinois can bail out Chicago? Nope, they are in their own debt death sprial.

Braindead conservatives have been predicting Chicago's imminent demise for 100 years

 

[DonGlock26]

Braindead conservatives have been predicting Chicago's imminent demise for 100 years

A bit of an exaggeration.

 

[d0gbreath]

We're basically the United States of Debt. Why should Chicago be any different.

 

[BluesLegend]

Chicago and many Dem cities are just biding their time, waiting for YOU to pay off their debt via a Federal taxpayer bailout. California has made repeated attempts at this.

This is why Democrats just go right on borrowing and spending, convinced they are too big to fail and the federal government and other 49 states will be forced to bail them out.

 

[Toddsterpatriot]

"Chicago's teetering debt is stark warning left-wing mayor is fueling 'pay later' doom cycle: expert


Austin Berg of the Illinois Policy Institute says Mayor Brandon Johnson's $830M bond deal, with no principal payments for 20 years, mirrors a notorious parking meter blunder.


Chicago Mayor Brandon Johnson and his administration are presiding over a city in serious financial straits.

Chicago, the nation’s third-largest city, is facing a corporate fund budget gap of more than $1 billion, while its 2025 fiscal year is projected to close with a roughly $150 million deficit with about two-fifths of the budget going toward debt service and pension costs.

Johnson said in April the city was "at a crossroads" and had to "essentially do more with less," while simultaneously slamming the Trump administration for reportedly threatening federal funding, calling it a "different scenario we weren’t under before.""

Chicago's teetering debt is stark warning left-wing mayor is fueling 'pay later' doom cycle: expert

Expert Austin Berg warns Chicago's "pay later" debt culture under Mayor Brandon Johnson is alarming markets with a $1 billion budget gap and risky bond deals.

www.foxnews.com

Democrat ruled Chicago is in a debt death spiral. Maybe Democrat ruled Illinois can bail out Chicago? Nope, they are in their own debt death sprial.

What happened to just taxing the rich people in the white neighborhoods?

It was gonna be easy.

Fuckin' moron.

 

[DonGlock26]

Chicago and many Dem cities are just biding their time, waiting for YOU to pay off their debt via a Federal taxpayer bailout. California has made repeated attempts at this.

This is why Democrats just go right on borrowing and spending, convinced they are too big to fail and the federal government and other 49 states will be forced to bail them out.

It is insane. I feel sorry for rural Illinois voters.

 

[hadit]

You support a president who used tax abatements to build.

Entire red states stay in debt.

STFU.

And here, gentle readers, we see one whose response to government failure is to shut up about it. Would we be so bold as to now hold said poster to his own standards?

 

[Conservative from Georgia]

"Chicago's teetering debt is stark warning left-wing mayor is fueling 'pay later' doom cycle: expert


Austin Berg of the Illinois Policy Institute says Mayor Brandon Johnson's $830M bond deal, with no principal payments for 20 years, mirrors a notorious parking meter blunder.


Chicago Mayor Brandon Johnson and his administration are presiding over a city in serious financial straits.

Chicago, the nation’s third-largest city, is facing a corporate fund budget gap of more than $1 billion, while its 2025 fiscal year is projected to close with a roughly $150 million deficit with about two-fifths of the budget going toward debt service and pension costs.

Johnson said in April the city was "at a crossroads" and had to "essentially do more with less," while simultaneously slamming the Trump administration for reportedly threatening federal funding, calling it a "different scenario we weren’t under before.""

Chicago's teetering debt is stark warning left-wing mayor is fueling 'pay later' doom cycle: expert

Expert Austin Berg warns Chicago's "pay later" debt culture under Mayor Brandon Johnson is alarming markets with a $1 billion budget gap and risky bond deals.

www.foxnews.com

Democrat ruled Chicago is in a debt death spiral. Maybe Democrat ruled Illinois can bail out Chicago? Nope, they are in their own debt death sprial.

Chicago and Trump love to increase debt. Shane on them.

 

[BluesLegend]

It is insane. I feel sorry for rural Illinois voters.

I know a few former ILL residents, they call it Hellinois.

 

[TheGreatSatan]

Chicago is another city occupied by America's enemies, stealing all the wealth from the Americans trapped there.

Nick Shirley types will find plenty of democrats running fake services there. All being done knowingly and intentionally.

Democrats = traitors