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Summary and audio linked here.
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.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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The author of this article (a prolific leftist tweeter too) claims to be a PhD candidate but this article is on par with a sociology 101 class. It’s terrible. It cites no figures or data to support its underlying assertions. The arguments makes broad generalizations and has faulty underlying assumptions. Her first argument is data lag but provides no evidence that the lagging data will be any different than the existing data showing that a major bailout is unnecessary. If this is supposed to be her first, and strongest argument, she failed miserably. How does the existing data support no… Read more »
Exactly right. She makes no effort to answer her own questions. She ignores the fundamental issue that America as a whole cannot bail itself out — this is just shifting the taxation from local to federal, pretending that federal money is manna from heaven. And note the last part about bailout money unrelated to COVID. At least she he being more honest than others are on that.