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The authors: Carole Brown is Chicago’s chief financial officer; Alexandra Holt is the city’s budget director.

Unbelievable! And these two people are in charge of the city’s finances! Even the lame credit raters immediately saw the pension bill for what it is — “credit negative” — a can kick that will plunge the pensions further into debt. Just wait to see when the public realizes that the bill includes automatic property tax levies starting in 2020 in whatever-it-takes amounts, provisions in the bill the press has entirely overlooked.

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We’ve got to try to get word out about the automatic tax increases. Chicago property owners from both parties are going to hit the roof when they find out. There will be hell to pay if we spread the word prior to November.


Alexandra Holt is a lawyer with absolutely zero financial credentials on her resume.