Unemployment Insurance Fund as Much as $8 billion in Hole – The Illinoize

“Normally, you have some relatively gradual decline into a recession. This was a cliff,” Illinois Retail Merchants Association President & CEO Rob Karr said. “The system was overwhelmed. Part of that includes fraud. And, to this day, I don’t know that anyone has a good handle on the true extent of the fraud.”

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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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