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.
“will be shutting down starting June 30 due to the majority party in the legislature’s failure to pass a balanced budget.” Hope the union members see this. Might help remind them the party that’s supposed to support their cause is turning its back on them, courtesy of the runt of the litter Speaker of the house.
Great, they have two local highways closed for bridge replacements now.