O'Connor predicts dire future unless Chicago fixes pensions - Chicago News and Weather | FOX 32 News

O'Connor predicts dire future unless Chicago fixes pensions

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CHICAGO (FOX 32 News) -

Alderman Patrick O'Connor has made some dire predictions about Chicago's financial future, which he fears will come to fruition unless something is done to death with the city's pension problems.

O'Connor said the city will soon face a pension bill of $1.5 billion.

He warns that if city officials don't do something soon, taxpayers could see their property taxes triple and that a number of city services will have to be cut.

Pensions for police and firemen alone will cost the city $580 million a year by 2016.

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