On October 7, 2024 Chicago Mayor Brandon equated fiscal responsibility with the arguments made by those who opposed the emancipation of Black people during the Civil War. This was in defense of his proposal for a $300 million high-interest loan to fund the demands of the Chicago Teachers Union. Johnson claimed that critics of this financial strategy were making the same arguments as those who said freeing slaves was "too expensive."
Chicago Mayor Brandon Johnson obliterated all rationale and poured gasoline on a fire of controversy yesterday when he said fiscal responsibility was opposed by the same types of people who railed against the emancipation of Black people during the Civil War. In an evangelical-style self-defense of his proposal for a $300 million high-interest loan to fund the demands of the Chicago Teachers Union, Johnson claimed that critics of this financial strategy were making the same arguments as those who said freeing slaves was "too expensive."
It’s worth noting that the entire school board resigned recently in response to this high-interest loan. The mayor then appointed a new board. This comparison is not only wildly inaccurate but also a reckless move that diminishes the atrocities of slavery. Fiscal responsibility is about ensuring governments live within their means, preventing waste, and safeguarding taxpayers' money. Fiscal responsibility is one of the most important tenets in our market-based economy. Suggesting that managing a budget responsibly is akin to supporting slavery pushes aside all reason. Not only does this kind of rhetoric undermine the real historical struggle of slavery, but it also diminishes his mayoral responsibility.
Johnson’s remarks distract from the serious fiscal issues facing Chicago, like financial mismanagement and poor public services. For years, the city has struggled with skyrocketing debt, high taxes, and underfunded schools. People have moved out, and businesses have left town. Instead of addressing these challenges, Johnson advocates for more borrowing, which will only further burden taxpayers, especially in struggling communities. The long-term effects of this kind of fiscal irresponsibility usually hurt those who are most vulnerable—after all, future generations will be left to pay for his excesses.
Balancing public needs with financial reality is not radical. Comparing this duty to the immoral institution of slavery shows a massive lack of understanding of both fiscal policy and historical context. It's also some of the most ridiculous rhetoric I've heard in 2024!
Here's the video to his speech.
For context:
The City of Chicago has a $538 million budget shortfall for 2024.
40% of the city’s budget is tied to pensions and debt.
$2.8 billion in pension payments for 2024…just to keep up with obligations.
$34 billion in unfunded pension liabilities.
Debt service costs of $2.1 billion: Chicago’s debt service consumes 17% of available funds.
Projected future deficits: The city is forecast to face even larger budget gaps in coming years, with potential shortfalls of $1 billion or more by 2025.
See Illinois Policy for more.