By Bill Cameron, WLS-AM News
(CHICAGO) At today’s City Council meeting, Mayor rAHM Emanuel officially unveiled his road map to new revenues for the city’s enormous pension liabilities.
As expected, Rahm called on the legislature to give Chicago a casino, legal weed and elimination of the annual 3% cost of living increases for pensions via an amendment to the state constitution.
In a surprise, he pushed ahead with the risky idea of a $10 billion borrowing for pensions.
WLS’ Bill Cameron asked him why that’s worth the risk.
“Risk is everywhere, Bill.”
Rahm’s road map is getting bad reviews from the leading candidates for mayor and in that regard he’s put a sunset in his pension borrowing plan so that the next mayor can opt out.
@ 2018 WLS-AM News