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.
Burn baby burn! Burn it all down. Every big blue city in the country needs to start over, and this time let’s put some people in charge that aren’t afflicted with PSS (Progressive Socialist Syndrome).