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.
Reddit informs me the aldermen who turned down the raise are:
George Cardenas, 12th
Raymond Lopez, 15th
Silvana Tabares, 23rd
Felix Cardona, 31st
Gilbert Villegas, 36th
Matt Martin, 47th
Only two are members of the Progressive Caucus. The DSA’ers are all grabbing theirs.