Like a poker player who has gone all in on a bet that's too big to lose, the Daley administration is expected to explain to aldermen on Tuesday why it needs to quickly issue $1 billion in new bonds to prevent the expansion of O'Hare International Airport from folding.
With less than half of the mega-project completed, the city is running out of money and needs the bond deal to continue work. In the high-stakes game of Chicago-style airport expansion, the fresh money would basically buy time to keep the project going with the hope that the city will be able to persuade the airport's two largest tenants, American and United airlines, to sign on.
Clergy poking their nose where it doesn't belong:
Former Chicago Ald. Edward Vrdolyak had just caught a big break. After pleading guilty in a federal corruption case and facing the prospect of prison time, Vrdolyak listened as the judge in his case let him off with probation.
Vrdolyak is hardly the only politician-gone-wrong to turn to religious leaders for a character reference in court.
Another recent example: now-former Niles Mayor Nicholas Blase, who pleaded guilty after federal prosecutors charged him in a kickback scheme.
And finally, the democrats are about to get plastered in the fall elections. So what do they fall back on? Blame, lies, and spending more money. Led by Chicago product Obama:
- A combative President Barack Obama rolled out a long-term jobs program Monday that would exceed $50 billion to rebuild roads, railways and runways, and coupled it with a blunt campaign-season assault on Republicans for causing Americans' hard economic times.
GOP leaders instantly assailed Obama's proposal as an ineffective one that would simply raise already excessive federal spending. Many congressional Democrats are also likely to be reluctant to boost expenditures and increase federal deficits just weeks before elections that will determine control of Congress.
Jim Manley, spokesman for Senate Majority Leader Harry Reid of Nevada, cautioned, "If we are going to get anything done, Republican cooperation, which has been all but non-existent recently, will be necessary."
November is going to be interesting.
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