So apparently the news that unemployment around the nation is at its highest in 25 years isn't enough for City Hall. Mayor Daley's chief of staff Paul Volpe announced today that, not even a week into March, the city is already short $33 million for the year and the city could fall behind by as much as $200 million before we roll into 2010. Per the Trib's Clout Street: more ›

In what has become a rite of passage for Chicagoans, like that first glorious spring thaw or the annual Cubs collapse, it's time again for another CTA Doomsday warning. This time, the culprit seems to be the economy and according to the Trib's Jon Hilkevitch, "The new numbers are so bleak that the "doomsday" service cuts and fare increases threatened more than a year ago appear mild in comparison to the sweeping measures that would be needed to fill gaping budget holes the Chicago Transit Authority, Metra and Pace are facing." Yikes. The CTA, Metra, and PACE are all facing huge tax revenue shortfalls which mean huge funding reductions for both 2008 and 2009. more ›