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Pension obligation bonds: Some Illinois city leaders want to gamble with taxpayer funds

APRIL 20, 2021 | by Ted Dabrowski | WIREPOINTS

By Ted Dabrowski, includes “… First, borrowing more money does nothing to solve the city’s actual problems. Sure the pension funds get a $56 million boost to their assets – and that makes the pension funds healthier immediately – but Wheaton taxpayers are now on the hook for the $56 million POB. … Two, if the gamble loses money, taxpayers are on the hook for those losses, too. … Three, a flood of cash into the pension funds will let city officials give the illusion that they’ve done something about the local pension crisis.” 

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