Chicago has passed MODEST pension reforms, set to take effect Jan 1. Pensioners have now sued, alleging that those cuts violate the Illinois Constitution. The provision in question, by the way, is almost word-for-word Section 24 of the Michigan Constitution.

http://www.chicagotribune.com/news/l...216-story.html

When the IL Supreme Court holds the cuts violate the State Constitution [[which they will, the IL SC already ruled that modest cuts to health care benefits violated the IL Const), Chicago will have three choices:

1. Raise taxes to pay for these pensions [[unfunded pension liabilities, as of 2012, were approximately $37.2 BILLION). Query whether the local economy can stomach a tax hit that high.

http://www.chicagobusiness.com/artic...kely-to-double

2. Cut services.
3. File for bankruptcy.

I believe the Germans call this "schadenfreude."