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.
That convention was a career start for the likes of Richard M Daley and all those seeking to gain from the change, think Government lobbyists, union loyalists, corporate CEO’s and utilities. It would be interesting to see a roster of the “independent” delegates who attended that cash grab.