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 community has been drained of resources for almost 50 years now,” The problem with this concept is ‘the community’. Chicago and the suburbs are filled with communities. The communities themselves are transient with people coming and going, buying and selling, renting and moving. The idea that the ‘community’ has been drained of resources is just plain wrong because it’s lacked resources for 50 years, there’s been nothing to drain. If you live in a place that sucks, has nothing but drugs, booze and payday loans stores, maybe its time to move. To somewhere else. You know, anywhere else. Anywhere… Read more »