Building Trust Through Smart Financial Planning That Benefits All Chicagoans
The understanding of relationship between marginal revenue and expenses and ability to implement fully realized and sustainable strategies to leveraging the relationship between marginal revenue and expenses exemplifies why we did so well throughout my tenures as the City’s Budget Director and as CPS CEO, and why things deteriorated after we left. As I always have said, there is no substitute for economic growth.
Municipal growth requires long-term planning and stability so families and businesses can make informed long-term decisions on some of the most important aspects of their lives – where they will settle down, raise their families, send their kids to school, start a small business, or retire – while knowing that the essential services and supports will be there, and that there would be predictability and affordability in the cost of living and in the cost of doing business. This has not been the case of Chicago, as the cost of living and doing business, especially for smaller companies and neighborhood businesses, are increasingly oppressed with higher, more frequently raised, and more regressive taxes, fees, and punishing fines. At the same time, basic services such as public safety, quality schools, and maintenance of our infrastructure remain uneven and, in far too many poorer neighborhoods, much diminished.
Chicagoan’s leaders have ignored and failed them for far too long. Recent growth in the central business district and downtown is great, but those areas are not the only parts of the City. Neighborhoods need to be rejuvenated with better planning and policies and a fairer allocation of resources based on real need, not politics. The budget is that vehicle to achieve that, and the right leader with the right understanding of Chicago’s citizens, aspirations, and budget represents the way to translate campaign plans into action.