Balancing the books in Chicago, part 1.

Reality bites

How to slash a deficit without raising taxes

Oct 22nd 2011 | CHICAGO | from the print edition

AT ABOUT 8.30am on Saturday October 15th, close to the city’s former meatpacking district, one of Chicago’s ancient water mains burst. As the road buckled and water gushed down alleyways, it was a timely reminder that the modern city is built on crumbling, century-old infrastructure. Fixing the problem is not easy, as the city is awash in debt as well as water. [More...]