Tuesday, May 19, 2015

Junk City: Chicago's pension crisis get just one line in Rahm's 2nd inaugural address

Darkness is coming to Chicago
Last week Chicago's massive unfunded pension bomb caused Moody's Investor's Service to double downgrade Chicago's credit rating--lowering the city's bonds to junk status. Moody's put the same mark of shame on Chicago Public Schools and the Chicago Park District.

Yesterday morning Mayor Rahm Emanuel was sworn in for a second term. In his inaugural address, the Tiny Dancer devoted just one line to the pension debacle.

Rahm's attitude is worth another credit downgrade.

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