Chicago Tribune
This article covered Chicago Mayor Rahm Emanuel's call for a constitutional amendment, $10 billion in pension obligation bonds and new revenue from legalizing and taxing marijuana and a Chicago casino to stabilize the City of Chicago's pension crisis. In response, Civic Federation President Laurence Msall said that gambling and taxing marijuana are not reliable revenue sources. He further noted that the Mayor's proposal illustrates the fact that any new revenue streams will likely be consumed by pensions in the near future.
Related Coverage:
Chicago Tonight: Pension Plan: How Mayor Emanuel Hopes to Confront Pension Obligations
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WBBM: Emanuel Pension Payoff Plan Intriguing To Civic Federation
CBS 2: Emanuel’s Plan To Fund Pensions: Amending The State Constitution
ABC 7: Mayor Emanuel outlines plans to use marijuana legalization, casino to pay for pensions