In Washington, DC, Rahm Emanuel had such a tough-guy reputation that people called him "Rahmbo". Now the former White House enforcer, who has been mayor of Chicago since 2011, faces a challenge as hard as any he met in the nation's capital. After years of overpromising and un-derfunding, Chicago has the worst pension gap of any big American city (see chart 1). Its debts are rising even as its population shrinks (see chart 2 on next page). Rahmbo's mission is to save Chicago from financial ruin. Unlike previous mayors, he is trying. It is not making him popular.
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