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Reform, Revenue, Time

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Chicago Mayor Rahm Emanuel came into office warning that the city needed to prepare for its "day of reckoning" on pension debt. But now that pension reform in Springfield has bogged down, Emanuel wants to push that day well into the future. This, of course, is how the state's pension crisis reached its current, epic proportions. There's also a whiff of bankrupt Detroit in this plan. And if the pressure is off in Chicago, you can bet it'll be off in Springfield. Madeleine Doubek discusses our chronic procrastination and its inevitable effect in a blog post today.