Revealed: Rahm Emanuel cuts public pensions, diverts money to benefit campaign donors

A new report...shows that the supposedly budget-strapped Windy City - which for years has not made its full pension payments - actually has mountains of cash sitting in a slush fund controlled by Mayor Rahm Emanuel. Indeed, as the report documents, the slush fund now receives more money each year than it would cost to adequately finance Chicago's pension funds. Yet, Emanuel is refusing to use the cash from that slush fund to shore up the pensions. Instead, his new pension "reform" proposal cuts pension benefits, requires higher contributions from public employees and raises property taxes in the name of fiscal responsibility. Yet, the same "reform" proposal will actually quietly increase his already bloated slush fund.

http://pando.com/2014/04/04/revealed-rahm-emanuel-cuts-public-pensions-diverts-money-to-benefit-campaign-donors/