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.
Start with property tax reform. How many people are losing their homes or will soon to excessive taxes coupled with rising home values? Helocs are very expensive now approaching 8% so to tap into equity is costly. When all else fails rip out your toilets like our fearless leader did. Invest in Port-O-Potty