A Billion Dollars
That giant sucking sound everyone has been noticing for a few years? Just got a lot louder:
Chicago is facing a $982.4 million budget shortfall in 2025 that has Mayor Brandon Johnson refusing to rule out the property tax increase he campaigned against.
Johnson’s hand-picked Chicago Board of Education approved a $9.9 billion budget that does not include the $175 million pension payment for non-teaching school employees. The city absorbed that payment until Johnson’s predecessor off-loaded that cost to the Chicago Public Schools.
In an unprecedented rebuke, CPS CEO Pedro Martinez and the CPS board rejected the mayor’s request to take out a short-term, high-interest loan to cover the pension payment and the cost of a new teachers contract. That’s why the mayor is laying the groundwork to dump Martinez.
Unless the board does an about-face, not only will the 2025 budget gap balloon to $982.4 million, but Chicago also will end 2024 with a $223 million deficit, in part because personal property replacement taxes have fallen $169 million short of year-end projections.
A cascading series of failures, one after the other.
Detroit is just around the corner.
And Captain Conehead is swinging around for another shot at the iceberg.
Labels: money questions
posted by SCC at 12:05 AM
88 Comments:
Those of you anticipating new promotional exams may be disappointed since there is a clause in the mandate that the exams would be given every couple of years unless there is some sort of financial hardship with the city. Example, last time this happened the Sgt.’s exam lasted for about 9-10 years (2003/4-2013). Hope it ain’t the case.
Every dime of my OT checks get spent outside the city limits. My family loves dining out in Rosemont, Schaumburg, Melrose Park, Hoffman Estates and so on … can’t wait to leave this city. Have about 6 years left and already scouting states and places to relocate to. Chicago ain’t getting a dime of my pension checks. It’s the only way to fight back.
Just keep that OT coming ! For the smarter officers work an extra day a month just to deposit more into ur deferred comp and an extra day for vacations. Use the system they created against them.
School money. Is conehead really trying to get rid of Martinez or just playing good-guy bad-guy to limit the money going to the schools? Is conehead smart enough to pull off that type of play?
Just raise taxes, fees and fines...What are they going to do complain, then pay.
For the young officers don’t expect much of a pay raise in the future. Looking forward it will be .25 % if you’re really lucky.
City has been mismanaged for a while. It shows. Wait when there is no OT. Wait for hiring and promotions to stop.
Progressive Socialist Democrats are destroying America..city by city. They spent well over 100 million on illegal aliens with our tax dollars!
The Detroit analogy is one people should stop using. Both state law and the lack of financial will in Springfield prevent Chicago from doing like the Motor City, and getting relief from a Chapter 9 bankruptcy. Brandon's financial foolishness will continue to drag the city's citizens to hell with no relief, unless there's a massive shift in voter behavior.
Captain Cooooooonnnnneeeeeeehhhhhhheeeeeaaaaad! (And the Teen Angels) [apologies to Cap'n Caveman!]
Yea it's a mess. Decades of mismanagement and under funding of pension funds. But part of that billion dollar deficit is state ordered contributions to fund the police and firefighters pension to 90%. Which is doable. Before all the weirdos who comment on this blog while never having actually lived in chicago, never have been a police officer nor contributed to any sort of tax here start to complain about taxes. We're all invested in the final outcome, whether you like it or not. Remember it was a good thing and success that downtown didn't burn down during the dnc. Some jokers here though seem to be unhappy sobs, and prefer the company of misery. That being said the best way forward is being a good cop. Or fuck it all. Either or
Speaking of which a billion dollars , any word on the copper from a A5 district stripped ?
Unfortunately Mayor Brandon Johnson’s educational background consists of bachelor's in youth development and a master’s in teaching. That’s fine if you want to pursue a career in education. What is needed to run a large city with multiple problems would be to have some educational background in any or some of the following: finance, economics, accounting, public administration, law, political science, public policy, urban planning, business and communications.
It would also have helped to learned how to start out at the bottom of a business learn the ropes then rise up into management and ultimately become a partner or even the CEO. At that point if one feels they can benefit government by all means run for a public office.
If you were going to choose a physician, an attorney, a plumber or a roofer or anyone else that provides a service you would look into their backgrounds and qualifications before hiring them. What is amazing that in Chicago, Cook County & Illinois the voters choose unqualified persons to govern themselves never checking into their backgrounds. We are in for some rough times!
It’s only money just print some more if need be sell the airports along with your soul
Where's mine? Someone else will pay for it, maybe insurance.
But seriously, if 500,000 of the 2.6M people in the city actually pay taxes, that's only $2,000 per person.
Or they could ask everyone to pay $385.
Save a ton of money and end Sanctuary city bullshit and stop giving these Illegals all this money!
But our pensions will be fine! 🤦🏼♂️
Conehead , typical DemoRAT is killing this City fast! There is a Budget deficit but lets give teachers what they want...Commie
They couldn't round up?!
maybe hire more "crisis workers" or "crime interrupters" the taxpayers just love paying more money for things that do not work
The news reported that 125 million was put into the CPS pension. How do you neglect to fund both the police and fire pensions , but find money for the teachers? This place is a disaster.
The worst most incompetent mayor in civilization! He sold out Chicago taxpayers to illegals that never paid a penny of taxes. He gave away millions upon millions to them instead of taking care of lifelong Chicago citizens. What he did is criminal!
Johnson is a blowhard and a fool.
How he ever taught school is a mystery and likely a lie.
He has the business aptitude of a 5 year old
He got elected by the plotting of big foot Toni and the self serving leadership of the CTU.
The first budget cuts should begin with all of the sanctuary costs which were never approved by voters.
Or maybe a federal consent decree over payments to BJs hair stylist?
It’s simple STOP SPENDING! Especially on illegal migrants! Cut the CPS budget. Enrollment is way down. Make quality of life better not worse. Businesses and residents will stop leaving. The city better rise up and demand mayor incompetent gets removed. Pritzker needs to put pressure on him to resign. He’s a very dangerous mayor
Maybe the Chicago teacher's Union should send another delegation to Venezuela to praise the socialism system of government much like they did in 2019. Nicolas Maduro, a Cuban socialist most famous for jailing his political opposition, gave the CTU delegation a tour of a failed nation and emphasized how politics plays such an important role with re-education in the schools shaping young minds. The CTU learned how to run government controlled public education to achieve a utopian society. Now that so many Venezu-aliens are here, lets get CTU the public monies so desperately needed to establish that Maduro modeled society starting with the public schools.
The city collects 1.7 billion a year from the TIF fund. Why doesn’t anybody bring this up as an way to balance the budget?
Time to downsize city government.
Do we really need "50" aldermen? How about cut it down to "20". With a ward reduction we'd probably save 150 million dollars a year. Time for a total restructure
This is what you get for voting democrap who continue chasing away businesses
Nothing left to sell?
I do the same and have 2 years left. Moving to Alabama! Giving you all my best for a better life.
Spoken like a true Chicago resident. Enjoy the rest of us are leaving.
They want everyone to forget how they are spending all the money on illegals/migrants.
Conehead won't be able to spend as much on illegal migrants when Trump takes office and starts deporting them...I do hear that sucking sound SCC. A lot of money is going up in smoke, and they are looking at the taxpayer for more of it...maybe when Chicago starts electing people who have established that they can actually run a large business successfully? This mayor is a one term wrecking ball. Who will be next? After Littlefoot, I said "Chicago can't possibly elect a worse mayor"...
Mayor Brandon Johnson only has approximately three years to go.
Totally agree!
By the time most realize to stop voting Democrat it will be to late.
I remember when Daley was short, no pun intended,the arrogant MF made us take unpaid days off, no paid holidays, no paid OT, just comp, and that was for just a few million
good thing all the illegals got their 500 million and still on paid vacation
our asshole mayor should be donating his paycheck to the illegals
Circling the drain.
ex-mayor daley said a good way to get that extra money is to collect all that parking meter money going to someone else, , hahahahaaa suckers
As Bernie Epton once intimated, "It's too late".
no he is simply supporting his teacher/union base . Martinez (correctly) won;t let him take out loans to do it.
the commumity apparently is exempt from paying
we could have had Vallas but the lakefront leftests and teachers voted for Brandon
This blogs comments have been full of batching coppers for over a decade.. yet all of you cry babies can't unite together and bring this city to its knees like the teachers do. Yea yea yea, police can't strike, but they can just answer the calls they get dispatched to and stop continuing to stop people, at least do so in those neighborhoods where they hate the police .. ie, black and brown neighborhoods. Give them exactly that they want. This is the easiest way to get rid of a horrible mayor. No one to blame but yourselves here.
Johnson is dumb, he makes Colton mayor look like a genius. Camel 🐪 la Harris is dumber than both and lack confidence to run the USA. She still says FJB is competent to run USA. The phone call from joe, it was a Sunday,oops I gave you too much information. I was making pancakes for family,nieces,just about to eat breakfast when Joe called, then something about putting puzzles together. FJB gave the USA a big FU when he didn’t suggest Americans get to select the next president. He announced he wanted 🐪 a Harris ,knowing the blacks wouldn’t vote if the dnc nominated a qualified candidate. She is dumb as a box of rocks,now copying all Trumps ideas.
If President Trump is elected, there will most likely be a significant reduction in federal funds to sanctuary cities. Reforms such as ICE cooperation will be mandated in order to restore federal funds.
If the US economy enters a deep recession such as 2008, Chicago's revenues will suffer greatly.
Ken Griffin made a very smart move in relocating Citadel to FLA. A lot of other companies will make the same decision to escape the coming shitstorm.
Billion dollar shortfall? No big deal. Keep spending and tack it on to the inevitable bankruptcy filing.
Unfortunately, when only thirty percent of the people vote, a halfwit like Conehead has a much better chance of getting elected.
When you have 20 aldermen, it is much easier for a small group of progressive morons to dominate the City Council, as opposed to 50. What we need is more democracy, not less. Have 100 aldermen, but cut their budgets.
Also, why is Chicago the only major American city without an independent legislature? Why does the mayor (executive branch) run the City Council (legislative branch)? The City Council should be independent, with its own speaker, to have some kind of checks and balances against the mayor.
Heard that if we get more blue cards and ISRs it's going to be all good.
Good job to the unqualified frauds and cheats at OEMC that somehow or another managed to secure positions, details, and promotions. IBEW 21 and OEMC personnel need to be investigated by the DOJ and FBI.
Lets keep promoting and making up positions that payout six digits a yr that we dont need...over bloated City Hall dumb fucks. What do the alderman and Conehead care..they are set financially.
You dumbocrats are getting exactly what the fuck you morons voted for now reap the whirlwind ! Chicago will become the next Detroit in less then 10 years if that long, another blue city turned shit hole complements of the progressive socialist democrats that are destroying America !
Close down the empty schools.
Daley was terrible.
Rahm was worse than shortshanks.
Lightfoot was worse than tiny dancer.
Conehead is worse than Beetlejuice.
Conehead needs a new nickname.
How about Chumley?
Chumley was the big, fat, slow dimwitted sidekick of Tennesse Tuxudo. Conehead is the big, fat, slow, dimwitted sidekick of the Teachers Union.
What’s it matter anyway? The cheaters know what scenarios are on the exam. Ordinary PO’s stand no chance on this corrupt department. Only recourse would be to utilize the benefits.
Where to start cutting costs? If you eliminated EVERY take home car, that alone would save millions. Imagine all the side pieces, BJs, lackeys, bootlicks, and other assorted "Special" folks and or People having to drive their own cars and buy their own gas. Fun to think about but it will never happen on this crooked Dept.
Why do we need even 20? I think one representative from each demographic would suffice. One white-one black-one Hispanic-one Asian and one gay.
Don't yu be worrying about that....
Lil Richie says....
Let's sell the parking spots for 100 years...everything will be fine....
.
That's.....racist.
.
Mr. Illegal says...
I anit paying shit...matter in fact...I demand More....Si. !
....Let's get midnight basketball going again...
On a separate note…
Just saw the mayor walking east bound on Ogden Ave and Hamlin accompanied by male white bodyguard (presumably) and a young female African American woman with glasses beige top faded jeans …
CPS students population has gone down yet CTU demands more
So what’s your point?
“ The shortfall also assumes Johnson will follow Lightfoot’s lead and make a $272 million “advance” pension payment above what the law requires.”. Also, a simple google search shows that Detroit loss the lawsuit trying to diminish Police and Fire pensions. The only thing that was forfeited was the COlA. The City will never claim bankruptcy, then they would have to open the books and expose all their little secret funds and projects.
I get desiring promotion for the increased pay but if you somehow got it on testing and have no friends, you’ll be on the street somewhere logging cars in the ghetto and taking complaints. If you can suffer the 20k in promotion money, being a regular PO probably better in the long run. But money is an alluring thing.
Johnson's educational accomplishments are inadequate even for teaching. No wonder CPS students have so little academic-achievement to show for hefty CTU teacher salaries (3rd highest in USA?).
Probably would be another smart idea of Daley Clan to sell the airports, but would hope Chicago taxpayers would receive a significantly better deal than the scandalously bad deal awarded Bill Daley and his associates for parking meters.
$150 billion in 2023-2024 spending by states and cities to financially support Biden's (and "border-czar" Harris's) horrific policy of open borders and super-generous benefits for invasion of unvetted and undesired 3rd-world economic migrants. Sadly many of these folks will never achieve middle-class status, and many likely have no desire to become financially independent civic-minded good citizens.
Over $30K per student. Can they read (knowing full well that even a good teacher can't make someone hellbent on learning nothing learn anything).
I guess everyone forgot that budget gap would have easily been closed up with the skyway, meters & parking garages that were sold off
Sure would be nice to have the $500 million back that mayor dumbass spent on the illegals instead of his own taxpaying citizens
OT
https://chicago.suntimes.com/police-reform/2024/08/30/officials-police-oversight-agency-copa-dismissed-retaliation-bias-against-police
COPA called out by internal whistler blowers and COPA retaliates against them.
Snelling just cancelled all rdo’s and implemented 12 hour days for Mexican independence weekend. Wtf. This guy can go F himself. What a jag off. Just as bad as the previous guys.
I can’t wait to see the teachers go on strike. Marching around the schools chanting that they are doing it ‘for the children.’ You know, the children that can’t read or do basic math. It will be truly inspirational.
What do you mean "if" the US economy enters a deep recession such as 2008? It's when?
I find it hard to totally blame Brandon Johnson for the financial sinkhole Chicago is in.
It started with Shortshanks sell off the parking meters and other assets. He did not address structural issues like financial reform by culling the workforce. The 9 1/2 fingered ballerina inherited the mess but didn't do anything significant to improve the situation. Could have saved the taxpayers a lot of by not rolling over on every lawsuit. Lightfoot had zero people skills and even less management skills. Kick the can down the road was her answer. Now we get the marxists teachers union puppet who he owned by. And they are going to want to feed big time on him.
There really wasn't a single candidate in the last election that was worth a fart in a hurricane. Many city agencies need to trimmed but no one has the guts to do it.
What if we rent out our parking meters and skyway for $1billion over a 4-5 year time frame? Any investor would jump at that opportunity and make their money back in the first year or so and have about 3-4 years of profit
But the migrants are all good. They have no cause in this. Welcome one welcome all.
Good one...
You think they'll strike and make their puppet look bad? Give me break. They'll get what they want in the end because they WONT strike enabling Johnson to trot out in front of the cameras and say he's the first mayor to settle the CTU contract without a strike in YEARS!
Why do you assume the male white was the bodyguard? Why can’t he be the boyfriend and the female black the bodyguard?
The ballerina actually made the parking meter situation worse. He acted tough and announced he was going to renegotiate the lease. All he did was make it better for them and worse for the taxpayers.
This fucking fat tub of shits priority is a new fucking state flag ! What an asshole , just waste a couple million taxpayers dollars on some complete unnecessary bullshit ! 100 billion in the hole, and fat fuck wants to piss away more taxpayers dollars ! This is what the fuck you dumbocrats vote for, so now enjoy the fucking that you’re getting !
I’ve been hearing the Detroit doom and gloom since I came on the job in 2001. For these people with the limited cerebral capacity, when exactly will Chicago become Detroit??? I’ve been waiting awhile now.
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