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.
Maybe some layoffs are in order but union contracts need to be looked at as a whole throughout the entire state. More contributions to medical care, no more freebies bring it in line like the private sector. No more exuberant accumulation of sick and comp days, us them or loose them just like the private sector. Wages and salaries need to come into line also. This worthless man in Springfield just doesn’t get it he thinks this is a game for him just because he is in power, caught on tape trying to bribe Governor blago, blago takes the fall… Read more »