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.
Funny how a BUDGET DIRECTOR doesn’t realize she is getting an undeserved tax break. Even funnier she gets off without paying the penalties and interest the average Joe would be dunned for endlessly.
So the City’s budget director has been stealing from the government and taxpayers for years? I guess in Chicago, with its moronic populous, that makes sense.