Budget + Tax

S&P hits Chicago Public Schools with credit downgrade

S&P hits Chicago Public Schools with credit downgrade

Standard & Poor’s sent Chicago Public Schools’ credit rating deeper into junk territory in the wake of the new $9.5 billion teachers’ contract. The ratings firm said the new contract will make the district’s financial crisis worse.

By John Klingner

Half of city aldermen don’t show up for Chicago budget hearings

Half of city aldermen don’t show up for Chicago budget hearings

Each year, the City Council holds hearings for every city department to justify their annual appropriation. These hearings are sparsely attended and rarely touch on spending. This year, more than half of Chicago aldermen skipped budget hearings.

By Chris Lentino

Sharon Wilbeck

Sharon Wilbeck

“Enough is enough. Our property taxes are some of the highest in the nation. People are having to move out of their homes because of it. That’s despicable. Businesses and people are leaving. Our good friends moved to Wisconsin for that very reason. We downsized and we’re doing OK, but for how long we don’t...

George and Jane Mann

George and Jane Mann

“We were both born and raised here in Illinois. We just celebrated 60 years of marriage. All of our children and grandchildren live in Johnsburg. That’s the only thing keeping us here. For people on Social Security and fixed incomes the property tax issue is really hurting us. It’s just too bad. I used to...