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.
Wonder how much this whole thing set back taxpayers. Don’t think we’ll ever see that figure.
Wonder how much this whole exercise cost IL taxpayers … a figure we’ll likely never know.
And, as I always ask, to what end? What was creating, manning, shipping, etc. this float meant to accomplish? Will there be an assessment of its impact?
So many unasked and unanswered questions.