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.
Mark:
It is time to stop acknowledging anything that the Tribune says as being relevant to the interests of Chicago or its taxpayers. It is nothing but a multi-national rag that looks out for nothing more than the interests of multi-national corporations.
You are giving the Tribune too much credit. It doesn’t do a decent job of covering national or international news, and given that it has rid of itself of experienced reporters, the inexperienced ones they have hired out of journalism school can’t get beyond the narratives they learned in journalism school.