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.
I’m not going anywhere soon, nor do I intend to do anything! I’m going to ride this boondoggle until something better presents itself.
This was a money grab by Hickey and her crew and has been from the start. I’ve been in these meetings where Hickey has a cluster of attorneys and advisors present, each at $200+ an hour, where nothing is accomplished but to decide when the next meeting is. If the city had a competent IG office, this could be exposed, but the taxpayer remains on the hook for this charade. SMH