The annual July 3 fireworks display in Grant Park has been canceled, according to the Chicago Mayor's Office of Special Events.
Instead, there will be three smaller events on Independence Day proper, one at Navy Pier and two at other lakefront venues.
From Chicago Breaking News:
"But like in every level of government, the bad economy has challenged us to do more with less and to even more efficiently manage our limited resources," said MOSE director Megan McDonald in a statement.
The only hope for the fireworks to be saved is by receiving corporate sponsorship, a solution WBEZ is advocating on its blog.
The fireworks have been at Grant Park for over 30 years, since moving there from Olive Park in 1978.