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.
Can’t we just start firing all these mopes already? Half of city hall could be wiped out and you wouldn’t even notice. Keep the cops and firemen, outsource streets & sans, electric and forestry with a competitive non-union bid. Billions saved and work would actually get done.
FAILED CITY ALERT: Even After Billions Of Biden Bailout Boondoggle Bucks, Lightfoot Still Can’t Balance City Budget
Most of the city administration have no idea where the money goes. Half can’t read or construct a financial spread sheet, no it’s not a bedding enhancement!