Cook County, Illinois, Projects $152.1 Million Budget Deficit In FY 2014

Cook County, Illinois, is looking at another huge budget deficit for the coming fiscal year. Communications Staff over at the County’s official blog wrote on June 27:

Cook County Board President Toni Preckwinkle today released the preliminary budget for Fiscal Year 2014 which projected a $152.1 million deficit.

They added:

The County is also projecting a year end shortfall of $18 million in 2013.

The fiscal year comes to an end on November 30 in the second-most populous county in the United States (after Los Angeles County, California).

It remains to be seen how Cook County plans to make up the projected budget shortfall in FY 2014, but President Preckwinkle thinks property and sales taxes can be ruled out. The Cook County Blog quoted her as saying:

I am confident we will be able to make the tough decisions necessary to balance the budget without raising property or sales taxes.

Bill Ruthhart reported on the Chicago Tribune website on June 27:

The Democrat from Hyde Park declined to discuss what specific tax and fee increases are under consideration this time.

“We’re trying to put everything on the table,” she said. “We have to close a $152 million gap in an environment where we’ve already picked all the low-hanging fruit, so we’re going to have tough choices ahead of us.”

Last year, Preckwinkle’s budget included a $1-per-pack cigarette tax increase, a $25 tax on new gun sales, a 1.25 percent use tax on out-of-county purchases of more than $3,500, a $1,000-a-year tax on slot machines and a $200-a-year tax on video gambling terminals. All told, those were expected to raise about $41.7 million in a $2.95 billion budget.

“We’ve already picked all the low-hanging fruit.”

Cook County residents and businesses should prepare themselves for new/higher fees and taxes going forward.

You can view the preliminary budget on the County’s blog here.

By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Ruthhart, Bill. “Cook County budget gap $152 million for next year.” Chicago Tribune. 27 June 2013. (http://articles.chicagotribune.com/2013-06-27/news/chi-cook-county-budget-gap-152-million-for-next-year-20130627_1_cook-county-budget-gap-sales-tax-increase-county-jail). 1 July 2013.

Share

Tags: , , , , , , , , ,

Monday, July 1st, 2013 Deficits, Fiscal Policy, Government, Spending, Taxes
Survival And Prosperity
Est. 2010, Chicagoland, USA
Christopher E. Hill, Editor

Successor to Boom2Bust.com
"The Most Hated Blog On Wall Street"
(Memorial Day Weekend 2007-2010)

PLEASE RATE this blog HERE,
and PLEASE VOTE for the blog below:



Thank you very, very much!
Advertising Disclosure here. Ad captions last reviewed/updated 4/18/17.
ANY CHARACTER HERE
Freeze Dried Food SPRING ADDITIONAL 15% DISCOUNT (promo code- home page); Free Gift w/ Purchase; Free Shipping (domestic orders). Review coming soon.
ANY CHARACTER HERE
Family-Owned & Operated in Chicago Suburbs! SAVE 10% OFF ALL ITEMS (promo code- home page); Free Shipping (U.S. orders) & Returns. Review coming soon.
ANY CHARACTER HERE
Buy Gold And Silver Coins BACK-DATED SILVER & GOLD EAGLE SALE!; Secondary Market Silver Coin/Bar Sale (1 oz. coins, 10 oz., & 100 oz. bars); 90% Silver U.S. Dimes & Quarters Sale; U.S./World Gold Bullion Coins/Bars also on sale; Free Shipping on U.S. orders $99 and up (only $5.95 below $99!). BGASC reviewed HERE.
ANY CHARACTER HERE
BullionVault World's Largest Online Investment Gold Service taking care of $2 billion for over 65,000 users from 175 countries. BullionVault.com reviewed HERE.
ANY CHARACTER HERE
SAVE 20% OFF ALL CASE PACKS!; BUY 3-MONTH SUPPLY GET BREAKFAST KIT FREE!; Big Savings on "Deal Of The Day" page; Free Shipping on orders over $79. MyPatriotSupply.com reviewed HERE.
ANY CHARACTER HERE
bullet proof vestsWorld's First Bulletproof Baseball Cap only $129; Bulletproof Ceramic Plate (NIJ Level III Stand-Alone) only $169; Bulletproof Backpack/Messenger Bag Panel only $99. BulletSafe reviewed HERE.
ANY CHARACTER HERE
Survival Titles Save 20% SAVE 35% ON SURVIVAL TITLES! (promo code- home page); Discontinued Title Sale- Savings up to 75% Off Original Price. Paladin Press reviewed HERE.
ANY CHARACTER HERE
This project dedicated to St. Jude
Patron Saint of Desperate Situations



happyToSurvive

Categories

 

Archives

RSS Chris Hill’s Other Blog: Offshore Safe Deposit Boxes

  • Degussa Singapore Launches YouTube Channel
    It’s been some time since I last blogged about the first Asian branch of Degussa, a leading international player in the precious metals world. Degussa Singapore opened its doors at 22 Orchard Road in October 2015 and operates a safe deposit box service in addition to selling bullion bars, coins, and precious gifts. Yesterday I […]
  • Nomad Capitalist’s 5 Best Countries For Offshore Gold Storage
    Research related to Monday’s post about precious metals storage in Singapore led me to a piece published last fall by Andrew Henderson over on the Nomad Capitalist website. I’ve mentioned Andrew and his company before on the blog, but for those readers not familiar with them, Henderson is the founder and managing partner of Hong […]
  • Singapore’s ‘Strong’ Precious Metals Storage Infrastructure Anchors Trading Hub Push
    It’s no secret that Singapore has become a global leader in the storage and safekeeping of private wealth. In fact, the last mention of the Southeast Asian city-state on this blog concerned a December 12, 2016, article on the The Business Times (Singapore) website which noted privately-owned precious metals from around the world are finding […]
  • List Of Offshore Private Vaults Updated
    The list of private, non-bank vaults outside the United States (offering safe deposit boxes/lockers at a minimum) located on this blog’s sister site- Offshore Private Vaults- was recently updated. Safe deposit facilities now open for business have been added under the following countries: -Hong Kong (Royal England Safe Deposit Box Ltd.) -Thailand (Magna Carta Law […]
  • Next Degussa Numis Day To Take Place May 4, 5
    Degussa, a leading international player in the precious metals world which also offers safe deposit boxes (for customers) at branches in Germany, Singapore, Spain, and Switzerland, has just posted information about their next Numis Day (first blogged about here) at their Geneva and Zurich showrooms. From their website: The Next Numis Day We appreciate and […]