The city of Chicago exists on another plane of the universe than the rest of us. It’s a place where up is down, black is white, and the basic laws of physics are held in abeyance so that when adding one plus one, any number that’s convenient (and politically viable) can be the answer.
In Chicago’s budget, the “new physics” includes the caveat that nothing is real unless we (the aldermen and the city’s hapless Mayor Brandon Johnson) say it is. And even then, nothing is permanent in this alternate plane of the universe. An equation that’s “true” today may not be so “true” tomorrow.
Do you think I’m being facetious?
“Chicago finished fiscal year 2024 with a $41.1 billion gap between the money it has available to pay bills and the obligations it owes, according to a new report from Truth in Accounting, placing the city among the worst financially managed major cities in the nation,” according to The Center Square.
That’s only half the story. The city denies there’s a deficit at all. City officials say (how can they not giggle when saying this) the budget is balanced.
Truth in Accounting CEO Sheila Weinberg clears up any ambiguity.
“They only include the expenses they’ve paid, not all the expenses they’ve incurred,” Weinberg said. “They also include loan proceeds as revenue and still claim the budget is balanced. In the real world, borrowing money to balance your budget would be insane. But in government budgeting, that’s how they do it.”
One person’s “insanity” is another’s denial of reality.
Hellbound and Down 