States and Cities under Fiscal Pressure: The Tales of Woe Rev Up Again – Stump

"For what it’s worth, we wouldn’t even be having this public pension bailout discussion right now if it weren’t the pigginess of Illinois politicians who made it explicit in their bailout request. We would simply be talking about revenue shortfalls in general, and not necessarily where the money would be spent, if Illinois politicians hadn’t brought it up in the first place."

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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.

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