Mayor Rahm Emanuel's City of Chicago lawyers predict 'catastrophic financial outcome for Chicago' if pension reform overturned by courts - which most likely will happen - But let's not talk about how Rahm Emanuel hasn't paid the hundreds of millions of dollars due to the various city pensions - Rahm just keeps not kicking but PUNTING the can down the road

Rahm Emanuel has already spent THREE TIMES what the city owes the city pensions on upgrades for the CTA trains lines and 95th Street station....

Upgrades that were NOT PHYSICALLY NEEDED but KICKBACK WISE really needed for his family, friends and political contributors. 

So it is really hard to believe that Rahm Emanuel can pull out almost ONE BILLION DOLLARS for overpriced corrupt CTA contracts but somehow paying the money the City of Chicago owes its pension will bankrupt Chicago!

Chicago faces a $300 million deficit in 2016 with shortfalls continuing “for the forseeable future” — even before piling on $20 billion in pension liabilities that have saddled the city with the “worst credit rating of any major city other than Detroit.”

And if state legislation that saved two of four city employee pension funds is overturned, a “catastrophic outcome” awaits retirees and Chicago taxpayers alike triggered by “further downgrades.”

Nobody’s talking about it in the race for mayor, thanks to Rahm Emanuel’s decision to postpone the day of reckoning until after the election. But that’s the dire portrait of city finances painted in the city’s friend-of-the court brief in the state pension case.

After putting the state case on a fast-track, the Illinois Supreme Court ruled this week that it won’t have time to hear any friend-of-the court briefs.

But the city’s filing nevertheless paints the bleakest and most accurate picture yet of the financial crisis that awaits the winner of the Feb. 24 mayoral election.

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