The Civic Federation came out
with its latest review of Cook County’s finances today. Not
surprisingly, the watchdog group is ripping Board President Todd
Stroger and his allies on the board for their “stunning failure of
fiscal responsibility.” Laurence Msall, who heads up the Federation, was nothing short of disdainful in his analysis of
Stroger’s plan to sell $740 million worth of bonds this year to balance
the $2.9 billion 2009 budget. From the report (PDF):
Cook County President Todd Stroger argues that the borrowing is essential because the massive one percentage point sales tax increase approved last year will not generate sufficient revenues to pay for the County’s spending plan … The failure of this government to consider the long-term implications of its fiscal actions is extraordinary and irresponsible.








