Chicago on Track for Record Deficit

Shields, Yvette
August 2010
Bond Buyer;8/2/2010, Vol. 373 Issue 33359, p1
Trade Publication
The article reports on the 654.7 million dollars budget deficit faced by the government in 2011 in Chicago, Illinois. It states that the slight improvement in revenue collections cannot keep pace with the growing personnel costs of the city which would increase by another 10 million dollars due to pending fire department raise under arbitration. It notes that the city expects about 6.3 billion dollars from all-funds budget but will fall because of additional spending.


Related Articles

  • Fiscal Position Getting Worse.  // Latin America Monitor: Caribbean Monitor;May2011, Vol. 28 Issue 5, p9 

    The article discusses the weakening fiscal position of Aruba over the medium term since 2011. The authors expect the country to experience a decrease in revenues and an increase in expenditures which can lead to the occurrence of nominal budget deficit of 5.5 per cent during the year. They also...

  • Investors, analysts alarmed by revenue shortfall. MARINO, JOHN // Caribbean Business;5/22/2014, Vol. 42 Issue 19, p22 

    The article reports on the concern of investors and analysts in Puerto Rico over the significant shortfall in expected government revenue in April 2014 which could lead to a liquidity crisis. The Treasury Department reportedly announced that its expected revenue is $356 million short of the...

  • Dems' rhetoric on state deficit is pure fantasy. Silva, Pete // New Hampshire Business Review;8/24/2012, Vol. 34 Issue 18, p18 

    The article reports on the announcement of the non-partisan Office of the Legislative Budget Assistant that the budget of the New Hampshire Democrats had created a structural deficit of 845 million dollars which resulted to revenue shortfall.

  • Strapped States Face Three- Year Gap of Up to $149 Billion. Seymour, Dan // Bond Buyer;7/28/2010, Vol. 373 Issue 33357, p5 

    The article focuses on the 149 billion dollar shortfall of several states in the U.S. in 2010. It notes that these states live with municipalities in need for state aid, uncertain federal aid, and tax revenues. It is observed that the financial cushions of the states are eroding. It points out...

  • Rainy Day Fund 101. MacCrossan, Gerard // Fiscal Notes;Jan2011, p8 

    The article focuses on the Economic Stabilization Fund (ESF) or the rainy day fund of the state government of Texas. ESF allows the state to appropriate excess revenue for use in times of unexpected and unforeseen revenue shortfall or budget deficit. Much of the current growth in the state's ESF...

  • The Indian Economy: Dealing with Public Finance Deficits. Vadra, Ratna // Journal of Case Research;Dec2012, Vol. 3 Issue 2, p125 

    The article focuses on the public finance deficits in India. It states that the country has experienced an unsustainable imbalance between expenditure and government revenues from 1990-1991. It mentions significant factors which causes the imbalance including increase in subsidies, defence...

  • Cook County President Unveils $4B Budget, Relies on ACA to Offset Deficit.  // Bondbuyer.com;10/9/2014, p25 

    The article reports on the 2015 budget unveiled by Toni Preckwinkle, board president of Cook County, Illinois, which relies on new federal health care law to close a budget gap. It noted the budget gap amounting to 169 million U.S. dollars. Also offered are details of the proposed 2015 revenues,...

  • Tax and spend, spend and tax, fiscal synchronisation or institutional separation? Examining the case of Greece. RICHTER, Christian; DIMITRIOS, Paparas // Romanian Journal of Fiscal Policy;Jul-Dec2013, Vol. 4 Issue 2, p1 

    One of the most controversial issues in public finance and macroeconomics is the nature of the relationship between government spending and revenues. The debate between economists and politicians has been emphasised recently because of the increased budget deficits and defaults in many developed...

  • Wisconsin Revenues Holding Steady. Shields, Yvette // Bond Buyer;5/8/2015, Vol. 1 Issue F318, p36 

    The article reports that the revenue and spending projections of the state of Wisconsin remain to be on target, according to the Legislative Fiscal Bureau's report to the Joint Finance Committee. Topics discussed include the estimated budget deficit of the state, the committee's creation of a...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics