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.
Who are these people that just don’t get it? No legislator from Chicago in either house in his right mind is going to vote for anything that helps the Bears move out of Chicago. “Making Chicago Whole” is not a palatable replacement for losing a team. Is any legislator from Chicago going to tell his constituents “I voted for the Bears to leave Chicago because they gave us our money back on the old stadium?” What? The infrastructure costs in Arlington Heights are a deal killer. And there is zero market for the commercial or residential parts of the development… Read more »