Faced with the impossible task of balancing Chicago’s budget without pension reform, Mayor Lori Lightfoot is forced to partially rely on phantom cuts and revenues.
On Sept. 15, the Barack Obama Foundation announced four semifinalists in the battle to build Barack Obama’s presidential library and museum. The four potential host sites include the University of Chicago, the University of Illinois at Chicago, Columbia University in New York City and the University of Hawaii. Holding two of the four slots, the...
Illinois is home to one of the worst pension crises in the country.1 At 39% funded, according to the nonpartisan Pew Charitable Trusts, Illinois has the worst pension funding ratio of any state.2 By contrast, neighboring Wisconsin’s pension system is 103% funded.3 In fiscal year 2022, Illinois’ total general funds pension costs, including pension bond...