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.
I’m certain that my elderly mother in Ohio will be happy to see her tax money being spent like this. A Red State wealth transfer and Blue State bailout is disgusting and criminal.
I guess that’s the Chicago version of relief: take out a loan and put yourself further in debt.
Don’t worry, I’m sure there’s a program in the works that will forgive the loans.
This is funny stuff. You now need a loan to pay your property taxes. That shows how ridiculously out of control property tax increases have been in recent years.
Hmm, I thought tax dollars were supposed to be spent on the specific item they were alloted to.
Drop the property tax levy – and benefit ALL Chicagoans.
OMG, what a f-en cheep ass/ equity hustle/ keep-um down on the farm joke!!!! — A $10 mil give back out of $3.83 billion total