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.
Right on everything Mark, and great article ! If he has a conscience he’d go for the easier, natural steps as you listed. If he has a functioning brain and let go of myths, he’d scream out that huge steps are needed such as reducing power of govt ee unions, and reduce total comp pckg of the govt ees. He might even admit the $500Million prop-tax-increase will not solve the pension problem and neither would the $10B Loan from WallStreet. He might say no more pay raises until the state constitution is amended. But that’s venturing into the real disasters.… Read more »
LOL,the idea of Rahm doing anything for anyone but Rahm is hilarious. I mean you are talking about a guy who buried and tied up a investigation into a possible homicide by the Chicago police to aid his own re-election chances.
Rahm was never a legitimate mayor, he falsified his residency in his initial petition and the courts railroaded through so he could stay on the ballot. Rahm was corrupt from inception, a low life scum, a piece of human debris and thoroughly dishonest, he comes from a family of dishonest degenerates and his brothers, amazingly, are even worse.