"They are just putting the city taxpayers further and further into debt." "They need to focus on telling the public the truth about their balanced budget, that they do not balance their budgets, they do not properly fund their pension plans," Weinberg said. Weinberg said no matter who is elected, city officials need to be honest with residents about their financial status. "We have paid down our debts for pension by $1.3 billion in the last four years."Ĭhicago could elect a new mayor in the coming weeks. "We believe in ourselves, and more importantly, we believe in Chicago, and we are proving it," Lightfoot said. Lightfoot said the city had paid $1.3 billion to the pension system during her four years as mayor. "If the market goes bad, then the taxpayers are going to be on the hook for paying for these benefits."Ĭhicago holds nearly $34 billion in unfunded pension liabilities for public safety workers such as police officers, firefighters and other city positions.Ĭhicago Mayor Lori Lightfoot spoke at the City Club of Chicago this month and discussed what she characterized as the city's strides in devoting tax dollars to pay down its pension debt. "It is all of the risk to the taxpayers," Weinberg said. Weinberg said the risk comes from Chicago pension system funds being tied to the stock market. 31-year-old Bianca Meeks of North Broadway in Centralia was arrested by Wamac Police on a Marion County failure to appear warrant on a pending felony domestic battery charge. "The largest thing we found was the risk that most of the cities are putting on their taxpayers." Saint Charles, MO Police Beat for Saturday, February 11th, 2023 Four people were brought to the Marion County Jail on outstanding warrants on Friday. "We found that the city continues to sink further into debt," TIA founder Sheila Weinberg told The Center Square. Chicago finished 74 out of 75 on the TIA list.Īccording to TIA numbers, Chicago has nearly $11 billion of assets available to pay bills totaling $48.8 billion, creating a $38.2 billion debt liability, which is about $42,000 per resident. The report was done by Truth In Accounting and highlights how big cities in the United States perform financially. "(The Center Square) – Chicago's nickname of the Second City has a new meaning as it comes in second to last in a new independent financial report.
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