Comptroller Susana Mendoza on What the COVID-19 Stimulus Means for Illinois – WTTW (Chicago)

One area the federal dollars will not go toward is Illinois’ massive unfunded pension liability, currently in excess of $140 billion. “Not a penny of this will go toward mistakes of the past, or pension debt or anything like that. We’re going to be fiscally solvent, that is the goal, and we’re trying to stabilize our finances and inject some predictability and stability into our financial picture here,” Mendoza said.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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.

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