Welcome to the Reader‘s morning briefing for Friday, July 14, 2017.
Audit: Chicago’s pension crisis has gotten worse but the cash balance is better
Mayor Rahm Emanuel has successfully increased the city’s bank accounts, but the pension crisis has gotten worse, according to a new city audit. At the end of 2016, the city had $153.7 million in cash compared to the $60.7 million it had at the end of 2015. But the pension crisis has gotten worse despite several new tax increases aimed at paying the debt. The city owes $23.17 billion counting “overlapping debt,” according to the Sun-Times. [Sun-Times]
