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.
IDES isn’t an outlier among Illinois agencies insofar as an inability to exercise responsible stewardship of taxpayer dollars is concerned.
Unemployment insurance mismanagement is just the headline of the moment. IDES has lots of company.
The Illinois Department of Human Services & Medicaid (PC camouflaged by calling it “insurance”), Department of Revenue, Department of Transportation, Department of Natural Resources – all “managed” by political appointees who take their orders from an administration beholden to government employee union’s political contributions, and tax-dollar-dependent cabals like Big Doc, Big Hospital, Big Pharm, Day-Care disguised as Education, and Big Lawyer.