Friday afternoon the Chicago Budget Office released its 2016 Annual Financial Analysis revealing an expected $137 million gap between expected revenues and spending for FY2017 and that $898 million of the city’s total $3.7 billion corporate fund budget will be devoted to pension payments next year. But hanging over it all, was that news that to get the Municipal Employees Pension Fund back on track, Chicago may need a new property tax hike as large as the ones put into place last year for the Police and Fire Pension Funds.

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