Mayor Daley blames the lease deal on the worst economy since the Great Depression. He maintains that Chicago was in such a desperate financial condition that he had no choice but to lease our streets in order to plug a several hundred million dollar hole in his city’s budget. But/For the lease deal, he would have had no choice but to increase our real estate taxes. In other words, his rational for this monstrosity of a deal is his ever present and continuing city budget deficits. I have a few questions. Hasn’t Mayor Daley been the mayor of Chicago for 20 years? Isn’t it the mayor’s job, even in times of recession, to show fiscal restraint and balance the cities budget?
So just out of curiosity, whose fault is it that the City is broke in the first place? Isn’t the city’s share of the nation’s highest sales tax of 10.25% sufficient to balance your bloated budget? Could anyone please explain to me how selling our meters at a fraction of their value in any way shape or form improve Chicago’s long term financial condition?
I’m convinced that Mayor Daley made a rational business decision to sell the meters in Chicago. Once again when I say “rational” I mean “rational” in a Chicago sort of way. Prior to this lease deal, mayor Daley was well aware that the cities parking meters only generated between $20 – $25 million per year in revenues