Tuesday, January 20, 2009

Economic Woes Don't Touch O'Hare Expansion

CHICAGO, Jan. 16 /PRNewswire-USNewswire/ -- As city workers fear job cuts and suffer furloughs, the O'Hare Modernization Project is still moving forward. The city of Chicago is facing one of the worst economic situations ever and is more than $450 million in the red. The project, which needs an estimated $20 billion worth of taxpayer funding, is behind schedule and under-funded.

In addition to the city's budget woes, Cook County's budget is also stretched, and the board is considering $740 million in new bonds - on top of the massive sales tax increase enacted last year.

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