Wirepoints’ Mark Glennon on AM560’s Morning Answer: Illinois Budget’s New Taxes Face Serious Constitutional Challenges
June 12, 2026
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Audio and summary linked here.
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A mess of uncertainty and litigation is sure to follow.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
I have seen no article on this “miracle solution” that does the A – B = C calculation where A is the Reduction in Pension Obligation and B is the expected payout over the amortization schedule in the Pension Obligation Bonds and C is therefore the Net Benefit of the Pension prepayment scheme. Nor have I seen any discussion of the cost of Pension Obligation Bonds (with an obligated payback schedule, i.e. actual cash out the door) with an agreed rate of return versus the pension obligation calculations at a variety of rate of return and retirement assumptions. None of… Read more »
Spot on. We have no idea how much, if any, it saves.
MsT and Mark: yes, that would be quite surprising and uncharacteristic for Illinois to save the taxpayers any significant amount of money on pensions – too great of a deviation from the corruption/greed normal mindset.
144 BILION is a small portion?
Time to ask the state to authorize bankruptcy for the city of Chicago.