It has come to this. Three years of budget cuts and fiscal panic have convinced Chicago voters that opening a casino in the middle of a recession is a good idea.47 per cent of voters back a casino and only 41 per cent oppose, according to The Tribune. Those numbers were reversed in another poll back in 2003.
Here’s how Mayor Richard Daley has balanced the budget for the past three years.
In 2008 Daley made a few budget cuts and then signed away the local parking system and airport in long-term leases worth billions.
In 2009 Daley made a few more cuts and then start spending lease revenue decades ahead of time. In 2009 he made a few more cuts and practically finished off the lease revenue.
And now people are warming up to Daley’s idea of building a casino, effectively a tax on poor people and another way to avoid real fiscal reform.
S&P dropped Chicago’s budget rating to A+ on Nov. 5. Meanwhile, Illinois has a $15 million deficit for next year.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.