SLStuart Loren

1. Article · Aug 26, 2026 · Stuart Loren

   Stuart Loren: Chicago’s fiscal crisis is a growth crisis (opens the original)

   Excerpt · Critical tone · English

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   As the race for Chicago’s next mayor takes shape, city finances are top of mind. Revenue for 2026 is falling short of projections and, in recent weeks, the city’s budget director and acting chief financial officer resigned just as Chicago heads into the 2027 budget season facing a projected $1.16 billion deficit and growing pension pressures. Meanwhile, our credit sits on the precipice of junk, with negative outlooks from three of the four major rating agencies. The city’s fiscal problems are ca

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2. Article · Jul 17, 2026 · Stuart Loren

   Stuart Loren: Chicago’s pensions had a great year, but that won’t save them (opens the original)

   Excerpt · English

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   Chicago’s pension funds just had the kind of year that’s supposed to fix things. Returns came in between 11% and 14%. Contributions hit records, including $272 million in supplemental payments. And yet, according to the city’s annual financial report, our pension debt grew — up $500 million from what the city reported last year, to $36.4 billion. If a banner year cannot reduce that shortfall, it’s fair to ask whether this system is sustainable. That said, there was some improvement. The funded r

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