Fitch: Illinois will be challenged to maintain investment grade credit rating – Center Square

“We’re paying more in interest than any other state in the nation and we have the worst credit,” said state Rep. Joe Sosnowski, R-Rockford. “We’re in a very tough situation and we still have lots of problems to face in the future.”

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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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