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.
Big Blue States like Taxistan are in a Death Spiral.
Glad I voted with my feet over 20 years ago.
My bank account is $200,000 larger because of my smart financial decision.
Plus I don’t have to listen to Guv Pigchop and Mayor BJ yapping away about nonsense!!
Besides the income they took, they took their family and the youth are the new long-term taxpayers who will never come back to Illinois.
So double whammy – Illinois lost almost $6B in taxes/spending and probably at least that much on “inward migration” of everyone who wanted freebies.