Commentary: The challenge to erase Illinois’ $140 billion in pension debt – Chicago Tribune*

David Greising, of the Better Government Association: "Two viable but competing plans are on the table. A scramble is underway to earn support from taxpayers, labor and business groups, leaders in the legislature and rank-and-file lawmakers, both Republicans and Democrats. We all have a stake in this flurry of activity. Even though the state’s annual pension payments are climbing their steep curve, Illinois still cannot keep pace with the system’s growing costs."
3 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Freddy
2 years ago

Simple! Just hit DELETE on the keyboard.

Poor Taxpayer
2 years ago

This is easy, do what you have been doing all along. Lie about the principal and lie about the rate of return on investment.
Done. Next steps leave the state before the Ponzi scheme fails.

fed up neighbor
2 years ago
Reply to  Poor Taxpayer

The Ponzi scheme has already failed, it’s being held up with rubber bands.

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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.

Read More »

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE