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.
At some point Chicago taxpayers will be broke enough that they will realize who is doing this to them. When you put Pritzker, Lori, and 50 Democrat aldermen in office, you obviously are not to that point yet. It is hard to imagine how many more gut punches to the pocketbook they will take before they wake up. Sorry it is happening, but who can feel sorry for them doing this to themselves.