Chicago’s teetering debt is stark warning left-wing mayor is fueling ‘pay later’ doom cycle: expert – FOX News

Chicago’s teetering debt is stark warning left-wing mayor is fueling ‘pay later’ doom cycle: expert – FOX News

While Chicago spends 40 percent of its money on debt service, actual services suffer, Illinois Policy Institute's Austin Berg said, adding is also the only city besides New York that doesn’t require voter approval of new general obligation debt. "Voters didn't decide to have all of that debt. And it's important for voters to be able to decide because those decisions affect Chicagoans 30 years from now. So, shackling them with these political dec…