You know a Democrat is in serious trouble when they get negative coverage by a reliably left wing outlet like the Washington Post.
In the case of Chicago Mayor Brandon Johnson, it wasn’t just a reporter or columnist calling out his budget proposal, it was the Editorial Board.
It seems they are concerned about the unfunded liabilities in the city’s pension programs. Johnson wants to create new taxes and raise some existing ones. The Washington Post sees this for what it is – a financial band-aid that won’t stop the bleeding.
From the Washington Post:
Chicago has lost its mind
Chicago has long-term structural problems with its finances, thanks in large part to wildly underfunded pensions. The country’s third-largest city has a history of using short-term gimmicks to paper over its problems, such as a notorious 2008 deal that sold off 75 years of future parking meter revenue for $1.15 billion, which was quickly spent. That deal is still hurting finances today, which should have taught local politicians that there is no substitute for serious fiscal reform. Alas, apparently not.
The city’s net operating budget increased almost 40 percent between 2019 and 2025, “subsidized in large part by temporary federal pandemic funding that kept the City financially afloat,” according to Grant McClintock of the Civic Federation. “The pandemic is over, but many of the programs and personnel positions established during that time remain, and without the benefit of the federal funding that previously supported them.”
Mayor Brandon Johnson (D) proposes to offset a $1.15 billion shortfall by taxing the businesses that anchor Chicago’s economy, borrowing and more gimmicks.
The mayor proposes to increase the tax on the lease of “personal property” like computers, vehicles and software from 11 percent to 14 percent, and to bring back the city’s “head tax,” which would result in large employers paying $33 per worker, per month.
By making it more expensive to do business or hire workers in the city, these measures threaten Chicago’s future economic growth and tax collections. These moves are especially reckless given that the Chicago Fed’s 12-month hiring outlook is the weakest it’s been since the pandemic. Gov. JB Pritzker (D) says the head tax would penalize employment.
Johnson was asked about this during a press event and rejected it, naturally. Watch:
Lori Lightfoot was a horrible mayor for Chicago, but Brandon Johnson somehow makes her look like a genius. How is that even possible?
The post WHOA: Liberal Washington Post Editorial Board Slams Mayor Johnson’s Budget Plan: ‘Chicago Has Lost its Mind’ appeared first on The Gateway Pundit.
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