Chicago's Financial Woes Have Just Begun

Chicago Elections 2011 ^ | 10/18/2010 | Enrique Perez

[chitownguy]

Chicago’s precarious financial situation is well-documented. The last few years have seen our elected leaders (the mayor and the aldermen) raise taxes, sell-off public assets, institute furlough days, make some spending cuts here and there, and deplete the city’s long-term reserves. Despite these measures, which hindsight has now shown to be nothing more than short-term fixes, and in the case of the selling of the parking meters a really horrible deal, Chicago’s financial house is still in disarray.

[kiryandil]

"A forensic audit"? ROTFLMAO!

Pigs will fly before the criminals that run Chicago will allow a forensic audit.

However, events may overtake them, anyway...

[Eric in the Ozarks]

“Let the goat be the gardener.”
And this is what happens.

[dufekin]

City of Chicago needs a drastic revision and downsizing of the city code. Consider this analysis:

http://www.ij.org/citystudies

If accurate, revision, reform, and downsizing of the city code should eliminate regulations interfering with businesses, curtail massive corruption and bribery necessary to do business successfully in the city without persecution, and eliminate excess inspector bureaucrats. For example, allow any business to post a sign against its exterior wall at any time without city approval.

Deregulation of entrepreneurs would encourage business formation (especially among the lower classes) and enhance employment opportunities (at the new start-ups, whereat practically all net private employment growth happens), thereby increasing tax revenues for the city. Meanwhile, excess bureaucrats would lose their jobs haranguing legitimate business owners. The new businesses could hire them, or they could start their own businesses, or they could find jobs elsewhere, including in other city departments.

[Shamrock-DW]

If I lived in Chi-Town I’d be packing my bags and getting the hell out!