State lawmakers and the city of Chicago owe taxpayers an honest assessment. It's a sad state of affairs when we have to get that assessment from a bond guru in Kentucky.
Rauner’s initial pension proposal helps him achieve his goal of a balanced budget without tax increases. But it will take a comprehensive, 401(k)-style reform plan to solve the pension crisis once and for all.
As the state faces its most pressing budget crisis ever, it is time to rethink how much of its income-tax revenue it can afford to pass back to local governments.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.