Illinois Supreme Court Rules Against Chicago Mayor
In a 5-0 decision today, the Illinois Supreme Court today trashed mayor Rahm Emanuel’s pension reform plan.
The ruling, welcomed by unions, dealt Another Blow to Chicago Taxpayers — and Mayor Emanuel.
Chicago Tribune Translation: “City and state politicians have known well that they were awarding pension benefits that Illinois governments cannot afford. Rather than properly fund pension systems, the politicians have spent on other priorities the tax revenues they should have set aside to fulfill all the generous retirement promises they made to their friends in public employees unions.”
I am pleased by the Illinois Supreme Court ruling. Ironically, so are the unions.
One of us is wrong but I don’t believe it’s me. This ruling should end the charade games.
Let the mayor blame the governor, but here’s the reality: The pretending period is over. The only solution to this mess is bankruptcy.
Mike “Mish” Shedlock
