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.
Illinois Democrats will NOT put any money from the federal government towards this when they can spend it on favored groups elsewhere. Especially, given that they will just soak employers to replenish the unemployment trust funds. Even though billions were given away to criminals because the state invests almost nothing in its IT infrastructure. They invest “everything” into their PEOPLE. (i.e. – unions). So we, the businesses, get to pay for a government that is freely handing out stolen money by the billions because…who else should pay, I guess? And, “reduce benefits?” I wondered if the person who said that… Read more »
This is a planned event seeking to put fear into those relying on unemployment. At the very last minute Pritzker and the Democrat’s will jump in to save the day with funding. I have seen this so often it isn’t even funny anymore.
I read this article to see if “Illinois officials” might possibly include the Illinois senate or general assembly. But no, only some minor viziers of Pasha Pritzker. It is well past time for elected representatives of the people to go back to work.