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.
This might be the first ‘non-progressive’ bill introduced by a Democrat in two years. Moylan must be worried about his district flipping red because there is no appetite whatsoever in our progressive legislature to back the blue. This is very telling.