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.
3000 pages of graft and corruption that none of them read, but from which most of them will profit personally. Illinois, the PhD Master Class on legalized Gubbermint theft of the taxpayers. Not one SPENDING CUT as usual.
In other words, they plan to piss the money away as usual.
I notice that they did this after 2:00 a.m. so I presume that this particular piece of drunken legislation took place in a 4 o’clock joint.