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.
What is it about this chart that is difficult for the Democrats in Illinois to understand? Can it be any clearer what New York and Illinois are doing to their futures. Why aren’t the Republicans in the legislature flashing charts like this all over the sate? It is just heartbreaking.