A Bailout for Illinois? Not Without Strict Conditions – Wall Street Journal

Other states will line up for money if Washington rewards Springfield for mismanaging its pensions.

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Bob Out of Here
5 years ago

$469 billion? *Gulp*. I had not heard that figure before. Surprised Jelly Belly isn’t asking for all that from Trump.

Poor Taxpayer
5 years ago

Not one penny to pay for pensions. Let them take less. Bankrupt the states and the courts will be fair to everyone.

Richard Broberg
5 years ago

1. When do I get bailed out?
2. Why not just give a milliion dollars to every adult in the U.S. 253,768,092 * 1,000,000 = probably cheaper than bailing out every states’ pension plan.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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.

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