Chicago: Detroit 2.0

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.

And it only had the $167m because of accounting tricks:

Budget Director Alex Holt blamed the $133.6 million drop on “honest” budgeting and ending the long-standing practice of carrying “ghost” vacancies.

And how do they plan to 'fix' it?  Taxes will go up. Fees will go up.  Some token cuts will be made.  The rest of the pork and graft will continue as normal.  Businesses and producing citizens will continue to flee the city. 

Can anyone actually argue against that?