Editorial: Mayor Lightfoot’s 2021 budget rescued by risky borrowing – Chicago Tribune*

"Lightfoot’s budget blueprint for the rest of this year and next year might not look painful to the average Chicago taxpayer. But it relies heavily on expensive borrowing; its balance sheet depended significantly on federal aid from June, not restructuring; and it does not make lasting changes to the tax-and-spend policies that drive deficit spending."

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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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