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.
If it goes ahead, let’s hope a brand new look is in order. This is a monstrosity that looks like the NIPSCO cooling tower in northern Indiana. It will stand out as an industrial looking eyesore on former park land.
A fitting edifice for a wholly manufactured president.