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.
Typical of Democrats to respond with some slapped together program so they can appear to do something! Do they ever sit around and play devils advocate and blow holes through it? It’s a very flawed thought process, if any thought is involved.