Is the current 2025-2026 Budget in a deficit or is this for 2026? What happens when the Chicago / State of Illinois (democrat) politicians don't get sufficient revenues? Wonder when the system collapses? The State of Ill can't declare bankruptcy and it is politically difficult for the City of Chicago and the City & State pensions to do so. What are the scenarios and when?
So there is a requirement for balanced BUDGETS but the actual FINANCIALS (aka how the cash flows actually come in)… I believe they’ve had to either borrow to cover current cash needs (yikes) or, most often, they’ve been shorting the scheduled pension payments
Cough
They’ve not taken those pension payment requirements seriously
Is the current 2025-2026 Budget in a deficit or is this for 2026? What happens when the Chicago / State of Illinois (democrat) politicians don't get sufficient revenues? Wonder when the system collapses? The State of Ill can't declare bankruptcy and it is politically difficult for the City of Chicago and the City & State pensions to do so. What are the scenarios and when?
So there is a requirement for balanced BUDGETS but the actual FINANCIALS (aka how the cash flows actually come in)… I believe they’ve had to either borrow to cover current cash needs (yikes) or, most often, they’ve been shorting the scheduled pension payments
Cough
They’ve not taken those pension payment requirements seriously
Well