City Council attempts to rein in spending, Foxx's shadow looms over Chicago, CPS enrollment drops, again.

City

Council actually demonstrated a little bit of responsibility this week.

I mean, it's been a long time coming, but they introduced an ordinance which would demand, I believe it's three-fifths of the City Council would need to approve any bond approval.

And the city council, of course, I think has been profligate in its ways for decades.

It's spent recklessly.

It's put us into debt.

We've had to borrow.

Borrowing seems to be the habit.

And right now, I think they're deeply concerned about Chicago.

staring down an $880 million budget deficit.

These deficits keep getting bigger.

This perplexes me, of course, because I think we were at about what, $9 or $10 billion annual budget.

in 2019, and I think we're just under $17 billion.

That's an extraordinary growth.

And now we're facing this $880 million budget deficit.

These numbers don't add up.

When you've got a budget which has increased so dramatically, how are you coming up with a deficit? And so a number of aldermen advanced a letter or advanced this ordinance in which typically it was a...

simple majority to borrow.

Now they want to raise the threshold to 30.

I think it's showing some fiscal discipline.

And in a letter earlier this week, a group of aldermen told the mayor, we're not going to approve of any tax increases.

We're not going to approve of any corporate head tax.

So they're trying to tell the mayor to put the brakes on taxing.

And they're trying to encourage the mayor to do something he absolutely does not want to do, which is cut the budget.

and and stop of raising taxes so we'll we'll see judging by the mayor's response to media doesn't seem as if he's going to approve this you know he has the right to veto it and i expect he will but this is not a good time for him to veto something which encourage or demands fiscal discipline because a lot of people are fed up with mayor johnson they have seen tens of thousands of families leave in the past 25 years and high taxes is one big reason for it.

City

Council actually demonstrated a little bit of responsibility this week.

I mean, it's been a long time coming, but they introduced an ordinance which would demand, I believe it's three-fifths of the City Council would need to approve any bond approval.

And the city council, of course, I think has been profligate in its ways for decades.

It's spent recklessly.

It's put us into debt.

We've had to borrow.

Borrowing seems to be the habit.

And right now, I think they're deeply concerned about Chicago.

staring down an $880 million budget deficit.

These deficits keep getting bigger.

This perplexes me, of course, because I think we were at about what, $9 or $10 billion annual budget.

in 2019, and I think we're just under $17 billion.

That's an extraordinary growth.

And now we're facing this $880 million budget deficit.

These numbers don't add up.

When you've got a budget which has increased so dramatically, how are you coming up with a deficit? And so a number of aldermen advanced a letter or advanced this ordinance in which typically it was a...

simple majority to borrow.

Now they want to raise the threshold to 30.

I think it's showing some fiscal discipline.

And in a letter earlier this week, a group of aldermen told the mayor, we're not going to approve of any tax increases.

We're not going to approve of any corporate head tax.

So they're trying to tell the mayor to put the brakes on taxing.

And they're trying to encourage the mayor to do something he absolutely does not want to do, which is cut the budget.

and and stop of raising taxes so we'll we'll see judging by the mayor's response to media doesn't seem as if he's going to approve this you know he has the right to veto it and i expect he will but this is not a good time for him to veto something which encourage or demands fiscal discipline because a lot of people are fed up with mayor johnson they have seen tens of thousands of families leave in the past 25 years and high taxes is one big reason for it.