Chicago’s mayor says city has a massive budget deficit

CHICAGO (AP) — Chicago is in a deep financial hole and the city’s new mayor says it will take more than tax increases and borrowing to close it.
Mayor Lori Lightfoot in her first state of the city address on Thursday said Chicago will have an $838 million budget deficit for the fiscal year that will begin Jan. 1. She said the administration of former Mayor Rahm Emanuel did not leave a credible plan to deal with the problem.
Lightfoot declined to give specifics on how that deficit wil