Editorial: Hope not enough to stem state budget crisis – Kankakee Daily Journal

"The feds may indeed bail out Illinois. But if the feds don’t, Mendoza says draconian budget cuts are in store to make it through the fiscal year. It’s a situation that begs for advance planning, including planning for a potential doomsday scenario. But instead, the attitude seems to be worry not. We have hope in our corner."

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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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