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.
Someone in press needs to ask, with all big cities nationally recieving COVID $billions, is Chicago the only big city that’s is in such desperate financial shape?
The politics of joy as the city crumbles. It time to face reality and get to real work of governing.