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.
Someone who is law savvy better keep a sharp eye on Springfield when they return in October, my thinking is these evil sadistic politicians will try and change the law since they know now they’ve been outsmarted and there backs are to the corner.