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.
Illinois is starting to sound like an organized crime family.
Oh how clever, the Tax Wizards find a new tentacle of tax burden for Cook Co. residents via upping digital retail tax. Gotta wonder, with the dying off of the appealing things about the county, how many more will flee this growing tax spider?
I thought I was informed…Didn’t know the Cook County budget was almost $7B. How about to start, let the city take over 1/3 and the state the other 2/3. Mandate x% cost savings.