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.
There’s a great line in this article where Com Ed’s attorney is trying to say that the bribery by Com Ed for rate increases and their resulting billions in profit are not related events: “We cannot accept that legislators are dupes or mere tools”.
If I was the judge, I would have laughed at this guy and asked if he has ever been to Illinois before.