No Shit Ed
- Mayor Daley was accused Monday of ignoring a “ticking time bomb” for Chicago taxpayers: four city employee pension funds that will run out of money by 2030.
During opening day of City Council hearings on Daley’s final city budget, Ald. Edward M. Burke (14th), chairman of the Council’s Finance Committee, homed in on the pension crisis that will force Chicago taxpayers and city workers to dig deeper..
Daley has vowed to push legislation in the Illinois General Assembly’s fall veto session that would extend a two-tiered pension system to newly-hired police officers and firefighters.
But, Burke said that’s nowhere near enough to diffuse [sic], what he called a “ticking time bomb.”
Nice to see Burke catching up. Too bad he'll solve exactly nothing.