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Daley Makes Leasing Public Assets a Generational Issue

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Chicago Mayor Richard Daley said today the city has to be creative in facing the tough economy. He strongly defended his plan to privatize the city’s parking meters today.

Daley defended his decision to add the city’s parking meters to the list of city assets being privatized. The $1.2-billion parking meter deal was approved by the city council this week. But today, the mayor took his arguments further, trying to get at something bigger, making it a generational issue.

DALEY: Our responsibility’s help the generation right now. We’re not putting them in debt. This is not, we’re not putting them in debt. We’re building solid foundations.

Daley says it’s better to use the money made from the meter lease now to build infrastructure that can be used in the future. In response to questions, he insists he’s not undermining the next mayor’s ability to balance city finances. Critics of the plan say the city is leasing too many of its assets, which will hurt money-raising efforts in the long-term.

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