Borrowing billions to lower Chicago's pension debt? Emanuel's finance team is considering it.
from Chicago Tribune
Mayor Rahm Emanuel’s financial team is considering borrowing billions of dollars to pour into Chicago’s ailing pension funds — a move they contend could save future taxpayers hundreds of millions of dollars but experts say comes with risk. The idea is to issue bonds at relatively low interest rates and use the money to reduce the city’s $28 billion in pension debt.
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