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Summary and audio linked here.
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.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Somebody better tell that to the Mayor.
“Mayor Brandon Johnson Says He Won’t Propose Property Tax Hike to Help Fill Projected $1.2B Deficit” by Heather Cherone | July 24, 2025 WTTW
Broken Chicago public safety pension math: Just $6 B in assets for $68 B in payouts – Wirepoints | Wirepoints
My property tax bill goes up every year no matter what. The headline should state “property tax rate.”
To Jim, Mark or Ted @ WP or any non-WP poster I offer up this question:
How in the world are these property tax increases limited to only City of Chicago residents when Chicago is a city within the county Cook?
Property tax bills have many line items for different levels of government covering the property. Some are limited to the particular city or town you are in, and some cover a bigger area such as the county or township. This article is about the tax specifically for Chicago.
Number of long time landlords with multiple properties in Lakeview and Bucktown are ready to sell – can’t keep raising rents.
And Zero layoffs for all the public sector heros hired with now spent, what was supposed to be ONE TIME use, ARPA-COVID $billions$ folks!! ……ENJOY YOUR EQUITY!!!!
Yes. Zero layoffs. That’s the goal. That’s what the current elected leaders have decided as their preference. They have openly admitted this. In this very article: “Our goal is to not cut services,” Jaworski said. “If we absolutely have to, we will go there. We are not going to have an unbalanced budget.” So the budget will be balanced according to Jill. They don’t want to cut unless they absolutely have to so that means they will need more revenue. If that’s still not enough then maybe you will see some cuts. However, it will be avoided at all costs.… Read more »
How about she/ they could provide list to public with the # of ARPA-COVID hired employees in each department that taxpayers will now be on the hook for. Useless press could inquire but they never do.
Key to city & state dem machine scam to get taxpayers to pick up tab for spent ARPA-COVID funds is claiming all the gov employees hired with ARPA-COVID funds are justified under EBFs (education EBF, higher education EBF, transportation EBF, etc). Dopey taxpayers are supposed to buy in that by some martire logic Ill gov is understaffed? Especially schools, and they got Rauner to sign onto education EBF.
Clearly Jill must be misinformed. Doesn’t she know that Chicago is already taxed too high and they can’t possibly raise taxes any higher. I have been told countless times that taxes can’t possibly go any higher. Very confusing.
Chicago is going to see property tax hikes in perpetuity because the city has been intentionally structured by its residents and politicians to provide (extremely poor) public city services at wildly inflated costs. Unions have bled Chicago dry, it’s basically the Esplanade in The Sopranos only technically legal. I don’t know how property tax raises are even a question anymore, there’s essentially nothing else of any real scale to tax. There’s nothing else to do besides an income tax, which will probably happen in the next ten years. As a former resident I enjoy watching the dysfunction.
“structured by its residents and politicians”
So you’re saying that this is intentional based on actions of the voters and the leaders those voters elected? How dare you blame the voters.
The public sector has gamed the system and won. The working taxpayer has lost. The best thing for the taxpayer to do is leave the state and let the public sector swim in the cesspool they have made.