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The [Thursday] Papers"For years, Chicago has patched up budget deficits with long-term borrowing - an expensive habit that Mayor Rahm Emanuel inherited, perpetuated and has vowed to break," the Tribune reports. "But a Tribune analysis of the city's latest bond sale, a $1.2 billion offering earlier this year, shows that the mayor will continue to run the city with borrowed money, at great long-term expense, through the rest of his term in 2019." I can't wait for the next mayor, who undoubtedly will be one of the current mayor's biggest cheerleaders, to assume office and immediately blame Rahm for the mess he or she has inherited, declaring that the old way of doing business is over. - The Trib's major findings: * The majority of the money will be used for budget relief and come at a very high cost. Almost all of the additional costs, however, do not kick in until after the end of Emanuel's current four-year term. By paying only interest for the first several years of the loan, Emanuel can use the funds borrowed this year to smooth out budgets through 2019 at minimal expense. Next, Rahm finds more parking meters to sell. - BeachBook Meet The Man Who Calls Journalists On Their Own B.S. * Chicago-Style In Lilburn, Ga. - TweetWood
* — Beachwood Reporter (@BeachwoodReport) March 15, 2017 - The Beachwood Tronc Line: Seriously. Posted on March 16, 2017 |
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