The New York Times
On the eve of the February 26 Chicago municipal election, this article explored the significant challenges facing the City of Chicago. One of the most significant issues is the City's loss of population, specifically African-American residents from the South and West sides. The article notes that this population loss exacerbates the severe financial challenges facing the City, including a junk credit rating and large increases in mandated pension contributions in the coming years. Civic Federation President Laurence Msall said that the next mayor of Chicago will have very few options for new revenue, as residents are already taxed at high rates.
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