The author, from the Manhattan Institute, argues that foundations can chip in to pensions to help save Chicago.
Comment: The Manhattan Institute does some good work, but this guy is out to lunch. His $19B figure for pension liabilities is just the four Chicago pensions, as officially reported. He leaves out the pensions for CPS, Cook County, Metropolitan W&R District, Chicago Park District, Chicagoan’s share of IL pensions, and more. He ignores healthcare liabilities. The consolidated problem is insurmountable without bankruptcy, so charities would be better off saving money for the humanitarian calamity that’s now inevitable.