Comment: The muni market has been generally content with can-kicks on pensions, and it absolutely loves taxes. A can-kick may end up being unavoidable for Chicago, but let’s hope it’s conditioned to massive, genuine pension reform.
Jefferson's views about cities were not embraced by the nation for 230 years, but that may be changing. Most of his other views were held sacred, but that, sadly, is also changing. Time will soon tell which ones prevail.