With only three alderman voting no, the Chicago City Council agreed to let Mayor Rahm borrow $1.1 billion dollars to pay the debts it has accumulated over years of mismanagement, corruption and theft by the Daley and Emanuel administrations.
«Its like going to a payday loan shop to get money to pay off your credit card bill,» said Progressive Caucus member Alderman Scott Waguespack, one of those three voting no.
“We can no longer allow the working families of Chicago to shoulder the cost of new borrowing with no plan to repay the debt. We were promised a responsible financial plan, instead we have been asked to blindly supply private banks and a limited number of connected individuals with the power to determine the future of Chicago’s financial health,” said my Alderman Carlos Ramirez-Rosa.
Yet, borrowing the money feeds the banks.
What did you want Rahm to do? Tax his…
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