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.
And for all these contributions to elect or keep certain pols in office what is expected in return?
I felt ire and outrage at reading that number, then inside the article found out it was over 14 years, and then I felt a bit manipulated.
$46.1M over 14 years is all it takes to buy off a state legislature? That’s barely anything! It’s pennies, the unions are buying your politicians, against your interest, for pennies.