Mayor Johnson’s Budget Sinking Chicago Further Into Debt After Credit Agency Downgrades – Chicago Contrarian

Civic Federation President Joe Ferguson blasted city officials for Johnson’s financial disaster. In a statement, he said, The Civic Federation takes no pleasure in yesterday's news that two rating agencies have downgraded the City's credit rating. A credit downgrade is not just symbolic; it indicates real financial consequences and long-term ramifications for not just the City but its residents.