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.
“”We don’t want to see anybody lose a job or even lose an hour on a paycheck,””
Wait a minute, I thought WE ARE ALL IN THIS TOGETHER?
Here is some low hanging fruit for Gov Pritzker and Madigan to pick – remand the unwarranted and unearned $249M pay raise given in June.