"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.""
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.