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.
That makes even less sense than Google’s goofy plan to use it a Loop office — for in-demand high tech workers that no longer need to commute downtown
If Joe is going to give that kind of dough to Chicago he’ll have to ask Hunter for an advance on his allowance.