Friday, July 19, 2013

Life in "Progress" City - Chicago edition

Don't feel so bad Detroit. Rahm Emmanuel will get his city to the most ineptly run government soon.........

A leading bond-rating agency has downgraded the Chicago Board of Education's debt in the wake of the settlement of the Chicago Teacher's Union's recent strike.

Moody's Investor Service had already downgraded the Chicago Public Schools' bond rating outlook to "negative" from stable in July. On Thursday, the rating agency cited its "view that the district will be hard-pressed to make the budget adjustments necessary to close an estimated $1 billion budget gap for fiscal 2014," in downgrading $6.4 billion in outstanding bond debt.


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