It’s time for some simple arithmetic…
Amount of budget cuts announced by the mayor this week, in wage freezes and unpaid furloughs for nonunion city workers: $44 Million. [source: Chicago Tribune, 20 Oct 2009]
Amount the city will admit to having spent on the 2016 Olympics bid, despite independent estimates that go much higher: $50 Million. [source: New York Times, 8 Apr 2009]
Hmm. Those numbers not sufficiently coincidental for you? How about these…
Amount of the city’s FY2010 budget deficit: $550 Million. [source: Chicago Sun-Times, 15 Oct 2009]
Amount the city’s tax increment financing districts diverted in property taxes in 2007, the most recent figure available: $555 Million. [source: Chicago Reader, 6 Nov 2008]
Can anyone tell me what two plus two equals? Anyone?