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.
Bravo, Chicago figured out another way of taxing its citizens that I had never thought of. Anything to fund excessive pensions. Make so to enjoy a park you have already paid for once you can pay a second time. Feeling like you are being fleeced? You should be feeling that way.
This lake is ours, and you can’t use it.