Garcia: Emanuel's Approach To City Finances 'Irresponsible'
CHICAGO (CBS) --On the campaign trail Saturday in the South Shore neighborhood, challenger Jesus "Chuy" Garcia called Mayor Emanuel's approach to the city's finances "irresponsible."
The Tribune reported Saturday that the Emanuel administration has issued $235 million in long-term bonds for "short-lived expenses," and is planning to issue as much as another $255 million in long-term debt to pay everyday bills, possibly including predecessor Richard M. Daley's failed bid to lure the Olympics.
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Garcia said doing so will haunt the city for decades.
"This long-term debt has been placed on young people who are being born during this election cycle," he said. "They will be creating families in the year 2040 and 2042. They are the ones who will be saddled with this debt."
Asked what he'd do differently, he said he would open the books and "make hard choices," but was not specific. He said would not balance it on the backs on low-income Chicagoans through fees, fines, penalties and red light cameras.
