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.
A few points: Governor Jim Edgar was NOT the “last good manager’. He was merely the last least bad manger and was along for the corruption ride. He was a go-along-get-along-and-we’ll-all-get-our-beaks-wet RINO. He tossed the hardworking taxpayers under the bus in exchange for harmony with the corrupt Madigan Democrats while enriching himself. He should be in prison. Mike Madigan IS, in fact, “an evil guy.” Yes, he is a product of the Chicago Machine, but Madigan sought out a role in the Chicago Machine just as much as a mafia street thug turned Godfather sought out organized crime. He is… Read more »