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Wednesday, December 11, 2013

A Multi-Billion Dollar Pension Crisis Threatens Chicago's Future

CHICAGO (AP) — It's not the vision of a world-class city that Chicago Mayor Rahm Emanuel typically likes to portray.

More teachers losing their jobs, thousands fewer police and firefighters on duty, less frequent trash collection and miles of potholed roads going unrepaired — all as property taxes soar.

But that's the scenario Emanuel and others have said could befall the nation's third-largest city if the state Legislature — which passed a landmark measure last week to address Illinois' severe public pension shortfall — doesn't deal with Chicago's own multibillion-dollar pension problem.

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4 comments:

Anonymous said...

Chicago... coming to a liberal city near you. The next Detroit.

Anonymous said...

America is the next Detroit.

Anonymous said...

No,it cant be.

lmclain said...

"Deal with" the pension crisis is governmentspeak for telling those people who worked for 25-30 years that the promises of their "leaders" carry about as much weight as the ashes at the end of a cigarette. Their "leaders", wealthy fromm a lifetime of kickbacks, payoffs, and bribes, are golden.
It isn't just Chicago. It's entire states and hundres if cities and towns across our country. THAT should scare the heck out of the sheep. For some reason it doesn't.