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.
The root problem in Illinois is that Illinois government works for only a small percentage of the citizenry. Illinois government works for the public sector union members – SEIU, AFSCME, ITF, CTU – and for their bribed Politicians. The taxpaying chumbolones should shut their yappers, get back to work, pay their taxes and pound sand.