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 dislike being the breaker of very bad news but it is what it is. Our Governor will ensure the hardworking taxpayers of Illinois will continue to suffer as much as possible. It does not matter what happens in November. He is on a mission to become President who is loved by everyone in the Democrat Party. This means he has no issue demolishing private sector businesses and people’s livelihoods with it. In fact he wants to do it. I expect him to fiddle the figures and lock down Illinois again, particularly Cook County, and especially if there is no… Read more »
Bring it – MORE poking, prodding, joking and tweeting at the incompetence (incompetents) in IL politics please!!
The article states spending cuts of “5% for the current fiscal year and 10% for the following one” meaning more or less they are not real cuts but rather proposed spending on another out of balance budget that assumes a Federal bailout. We can be sure that the tax body union employees and the free stuff army will be up in arms if there is no bailout. Should there be no bailout then make sure you have plenty of popcorn stashed away so you can sit back and watch the show of a lifetime.
Illinois seems to be like the little child who wants to be taken seriously but throws a fit when it does not get its way. Spoiled.
Good to see some noticeable backlash against Illinois from the surrounding states. Those states were financially responsible and Illinois was not. No reason that they should have to subsidize the irresponsibility of our own doing. Can’t blame them a bit, and I hope they start protesting louder! Pritzker manages Illinois’ finances about as well as he manages his own waistline – not at all!