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.
Chicago is failing, and Illinois is collapsing and this is what Chicago Magazine is interested in? Wow! You people need to get out and about more.
Wow. What a high quality bit of unbiased journalism. Pulitzer Prize worthy I’ll submit.