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.
Chicago and Cook County should also consolidate, as Nashville/Davidson did many years ago. They could rid themselves of hundreds of duplicative positions and save millions of dollars in the process. That money could be put to better use than career pencil pushers.
The school districts should now merge or consolidate. Here in Winnebago county we have 11 school districts. In McHenry county 18 dist’s. Way to many duplicative services all costing taxpayers a fortune to take care of them for life.