Op-ed by Paul Vallas, includes “While Mayor Lori Lightfoot is doing an admirable job of marshaling resources to fight the current threat, her claim that Chicago’s budget is in good shape strains credulity. Signs point to a severe impact on the current 2020 budget and a budgetary nightmare in 2021. … The property tax, Chicago’s most stable revenue source, is 93% dedicated to the funding of pensions and debt service. The city’s $4.45 billion corporate fund, which pays for core city services, is heavily dependent on taxes directly impacted by the pandemic and the economic shutdown. …”