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.
If you own a house take out a huge mortgage and do not pay any property taxes ever. You can put off foreclosure for a long time. Then leave the state and give it the one finger salute.
House values are going to fall big time as Shitfield taxes away the equity.
They need to add more money into the funds. At least they acknowledge the issue.