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.
Layoffs? Furloughs? Oh what a shame. Industries such as hotels, airlines, rental car companies, restaurants and more have had layoffs and furloughs by the truck loads for months now. If they are forced to exercise some fiscal restraint, Lightfoot needs to do the same instead of sticking her hand out to Trump while spitting in his face.
The state of Illinois, cook county and the city of Chicago, especially CTU have been on vacation for the entire time. Lori and the rest of the Democratic Party in Illinois and cook county refuses to lay off their predominantly minority unqualified employees. The rest of us has to pay for their vacations. And now they want more money from trump.
So…..in anticipation of this financial shortfall Lightfoiot has been cutting city staff since March right? Or have AFSCME, SEIU and CTU been sucking off of the taxpayer teat oblivious of the Wuhan Virus impact on city revenue?
The Federal government debt per taxpayer is greater than the City of Chicago debt per taxpayer.
So the debtor with a smaller problem is asking for a bailout from the debtor with a bigger problem.
If local media were not approaching totally useless they would use terms such as “collapse,” “disaster,” or “catastrophe” rather than the euphemistic snoozer “shortfall.”