Crain’s Chicago Business’ Greg Hinz posts on his blog today more about the Fitch downgrade of Cook County’s bond rating:

“Further compounding diminished financial flexibility is the increased burden of a high-sales-tax environment in the current weakened economy,” the Fitch report continued.

Fitch also expressed concern about “political and financial inconsistency in both general and health system governance.” And, seemingly siding with county President Todd Stroger, it said efforts to repeal more than one-quarter of the 1-percentage-point sales tax hike Mr. Stroger pushed through “would likely strain financial performance . . . (and) could cause negative rating pressure.”

And yet Todd Stroger continues to veto the county board’s repeal of the sales tax increase.

Folks — the county’s bond rating affects the wealthy and poor alike.  Todd Stroger can demagogue all he wants with false threats of being forced to close county health clinics.

But the fact remains his sales tax is hurting our county’s finances.   The high sales tax is meaning less revenue for the county as people spend less, employers hire less, and retailers sell less (or move out of the county.)  And, with the county continuing to spend at an alarming rate — this is a recipe for financial disaster.

So, Todd Stroger can continue to play the politics of class warfare and fear … but the economic warning signs continue to tell a story that we cannot ignore.