$6.6B gap in Illinois reserve funds is far from ‘fiscal responsibility’ – Illinois Policy

Keeping these record reserve levels in context is key to understanding just how far behind the state is in terms of sound fiscal management and how much work is still left to be done. It took unprecedented revenues and billions in one-time federal aid to get the state rainy day fund beyond the level of a joke.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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