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.
“They will be making offers to at least 10 people a month – all of whom will be eligible for this program,”
wow, 10 persons per month. A $3500 offer to ten persons a month will surely solve the problem. I mean, that almost pays two months of real estate taxes.
Why bother staying on the IL side?