“Mayor Rahm Emanuel closed the books on 2012 with $33.4 million in unallocated cash on hand — down from $167 million the year before — while adding to the mountain of debt piled on Chicago taxpayers, year-end audits show, reports the Chicago Sun Times.  Last week, Moody’s Investors ordered an unprecedented triple-drop in the city’s bond rating, citing Chicago’s ‘very large and growing’ pension liabilities, ‘significant’ debt service payments, ‘unrelenting public safety demands’.”

http://www.economicpolicyjournal.com/2013/07/rahmaland-cash-on-hand-plunges.html

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