August 29, 2019
This article covered the City of Chicago's significant financial challenges ahead of Mayor Lori Lightfoot's State of the City address. Civic Federation President Laurence Msall said that the Mayor does not have any easy solutions left to address a roughly $1 billion budget deficit, growing pension liabilities and a high debt burden. A Civic Federation report released earlier in the year outlined the magnitude of the City's financial problems, weighed the costs and benefits of a number of solutions and offered recommendations to the City's new leadership.
Associated Press: Chicago’s mayor faces sobering reality – huge budget deficit
The Wall Street Journal: Chicago Mayor Searches for Answers to Gaping Budget Hole
Crain’s Chicago Business: A shocking, but not surprising, deficit: Reaction to Lightfoot's frank talk on Chicago's finances
Chicago Tonight: Alderman: Budget Gap Could Be As High As $1.3 Billion
WGN-TV: Mayor Lightfoot to deliver first State of the City speech (video)