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.
The rest of the country has figured it out. Stay away from Chicago and Illinois. The ship is sinking. Send your thank you note for this disaster to Pritzker, Madigan and Lightfoot.
Government has taxed away your equity.
Not going to get better, it will get worse.
High taxes destroy property values.
The weakness will only get worse if Kim Foxx continues to let violent criminals return to our streets, and Lightfoot continues her verbal beatdown of our police. Who is going to want to always have to be hyper vigilant, and never truly relax? Plenty of other cities and regions in the US offer that opportunity. Unfortunately for us, those two seem to be staying on course. They understand what they are doing, I hope Cook County residents are learning that also. Although, from the lack of public outcry, I doubt it.