The Financial Times: Chicago Pension Gap Worse Than Detroit

The Financial Times reports:

Mayors across the US are facing predicaments similar to Mr Emanuel’s. From Detroit to Chicago to San Diego, American cities have found their budgets choked by unfunded pension obligations. Part of the national problem lies in the swelling number of pensioners and the ruinous effect the 2008 crisis had on public finances. But mainly it is because politicians failed to pay for pension promises, choosing instead to pass the burden on to future taxpayers.

Chicago and Illinois, with their worst-in-the-nation status, are outliers. Even Detroit, whose huge pension gap was one reason it was forced to file for bankruptcy this year, is in better shape.

The great moments of "progressive" , one-party rule.