Editorial: Digging out of the hole – Rock Island Dispatch Argus

"Across Rock Island County, local governments are worried about what to do with their pension obligations....These obligations are distinct from what’s going on at the state level, where its pension systems face daunting fiscal challenges. Still, it’s the same type of hole. And cities are struggling to figure out how to climb out of it, especially because the state has told local governments to fund 90% of their police and fire pension obligations by 2040."

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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.

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