Where Did THAT Come From?
Mayor Daley has a whopping $217.7 million hole in his 2008 budget that can only be filled through tax increases, employee layoffs, non-personnel spending cuts or a painful combination of the three, aldermen were told today.
The shortfall is the second-largest in 10 years in the city’s corporate fund alone and is coupled with smaller but still sizeable gaps in the city’s water and sewer funds.
It comes just five months after Daley breezed to re-election on a budget that froze the city’s property tax levy for a third straight year, held the line on all other taxes and fees, and used $94 million of the $1.83 billion Chicago Skyway privatization windfall to finance an array of neighborhood and social programs.
And everyone else, keep voting democratic - tax raises for everyone! Everyone who actually pays taxes that is.
Labels: city politics