Budget director: City property tax hike plan not enough

http://abc7chicago.com/news/budget-director-city-property-tax-hike-plan-not-enough-/1006710/

Mayor Rahm Emanuel's proposed $543 million property tax hike may not be enough to resolve all of Chicago's unfunded pension debt, the city's budget director told alderman on Monday.

"We're going to need Plan B," said Alexandra Holt, the city's budget director. "We're going to have to come up with some sort of alternative."

The $543 million annual increase that is part of Emanuel's plan - phased in during the next four years -- would shore up only police and firefighter pensions, Holt said. The separate retirement system for municipal workers and laborers would remain billions underwater.

 What a sad state of affairs when a Half a Trillion dollar tax hike proposal is not enough. You voted for this crap now deal with it.