Public Pensions Quicktake: Pension Underfunding vs. State GDP – Stump

For number wonks, from actuary Mary Pat Campbell.
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DJSTORM
5 years ago

It is a shame how the state of Illinois serves the people. More like a drive by and carjacking combined. Several years back the biggest show of force was the United public workers and teachers unions march combined in downtown Chicago. Yep , too much government too many contractors and employees per capita and the bill will break you. Worse Mike Madigan and the constitutional change made to create a Economic Weapon of mass destruction. But in this feed the pension pigs state the pork politics are unlikely to change as lies and evading truth are both media and liberal… Read more »

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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.

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