Granite City Mayor Mike Parkinson said of the $86 million sale of the Granite City Wastewater Treatment Plant, “The driving force behind it was (that) the city has $100 million in pension liabilities that have to be covered and we’re at a crossroads…the significant amount of money that we could sell the plant for—that we’ll be able to position ourselves to pay that debt off without raising taxes on our citizens.”
Careful, mayor. There once was a mayor of Chicago that sold off viable assets to satisfy the pension monster. It didn’t work out so well as the assets went for pennies on the dollar and the pension monster is nowhere near sated.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Careful, mayor. There once was a mayor of Chicago that sold off viable assets to satisfy the pension monster. It didn’t work out so well as the assets went for pennies on the dollar and the pension monster is nowhere near sated.