* Tribune editorial on Mayor Lori Lightfoot and pensions…
We’re grateful to hear an elected official confront the details of the pension crisis and commit to solving it, regardless of the potential political cost. So far the responses from Springfield have been empty. A lot of: We look forward to hearing what the mayor has to say. …
Where’s the urgency?
True, Lightfoot is thin on details. She told Crain’s Chicago Business that handing out generous cost of living allowances to government retirees is “unsustainable,” and she wants to see “structural changes” to the pension system. But what exactly does she want from the state? How does she propose balancing the 2020 city budget? How much will she raise taxes if Springfield does help her — or, by contrast, refuses to help her — with pension relief, taxing authority and the possibility of a Chicago casino? To be determined.
What we know for certain: Chicago has a pension disaster. Springfield has one, too. Future stability and prosperity are on the line. Lightfoot doesn’t have a plan yet, but says she’s determined to act.
That puts her one step ahead of Springfield.