The state projects that pension costs will devour more than a quarter of the budget for the next 25 years. The problem is, Illinois’ pension crisis is far worse than even the state’s official numbers show. In reality, the state needs to devote half its budget to retirements just to get the crisis under control.
It’s not often that we’re on the same page with Tom Tresser of CivicLab and Ben Joravsky of the Chicago Reader. But on the central problem with tax increment financing in Chicago – their abysmal lack of transparency -- we’re on common ground, along with most everybody else.