Cook County Board President Todd Stroger is coming under fire from fellow Democrats for a plan to borrow billions of dollars. The county board approved the bond deal yesterday.
Stroger says the plan to borrow $3.75 billion shouldn’t take anyone by surprise. He says the money’s needed to keep the hospitals open and hire guards at the county jail.
STROGER: These debts didn’t come up yesterday. They came up two, three years ago.
Stroger emphasizes the money will go toward projects the board already approved. But Commissioner Mike Quigley says it’s a bad time for the county to be borrowing so much money. He points to problems facing many firms on Wall Street.
QUIGLEY: We’re adding debt in an uncertain future when we don’t need to.
Despite those concerns, the board approved the bond deal 12 votes to four.