Mayor Richard M. Daley Is Credited With Leaving Chicago an Unpayable Debt Burden

We've been reading stories in the NYT and elsewhere about how Chicago has pension obligations to its workers that it can't possibly meet. Most of these accounts are exaggerated and seem intended to provoke excessive fears in order to facilitate default on the city's pension obligations. Nonetheless, there is no doubt that the city has seriously underfunded pensions.

This is why it is striking that when the NYT ran a piece on former Mayor Richard M. Daley going to the hospital, it failed to me...