Chicago’s Municipal Pension Proposal Makes the ‘Edgar Ramp’ Look Like Kansas – WP Original

By: Mark Glennon*   Here’s what Chicago taxpayers face under the proposal passed today by the Chicago City Council’s Finance Committee, supposedly to stabilize one of the city’s four pensions, MEABF:   This year and next, taxpayers will contribute $163 million to the fund. The ramp up thereafter is $267 million in 2018, $344 million in 2019, $422 million in 2020, $499 million in 2021 and $577 million in 2022.   Then, the real shocks start. Beginning in 2023, the taxpayer contribution will be based on the “ARC.” That’s a purported “actuarial” calculation that supposedly would take the pension to

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Economist: Illinois’ labor-participation rate lowest since 1970s – Illinois News Network

Illinois may have gained 43,000 jobs in the past 12 months, but Commission on Government Forecasting and Accountability Chief Economist Edward Boss said the state’s labor-force participation rate is the lowest it’s been since the 1970s. “You can’t expect much growth or much tax revenue if you don’t have people working and paying taxes if they’re out of the labor force.”

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A Fix for the Culture Wars – Bloomberg View

Last month, the University of Chicago appeared to pick sides in the latest iteration of America’s culture wars. But it was really announcing just how silly those culture wars are — and how to get past them. Aspirations matter — and the University of Chicago has the right aspiration Comment: This is the best article yet on that U of C welcoming letter for students.

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Cars.com going public – Crain’s

Cars.com, which provides reviews of new vehicles and comparisons of competing models, was part of Classified Ventures, a joint venture of Gannett, Tribune and three other newspaper publishers, until two years ago when Gannett bought out its partners for $1.8 billion.

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