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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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Again, read this article in reader mode – because we don’t support globalists – and I feel dumber for reading it. Crain’s complains that the bill is bad policy written exclusively for special interest groups to pick the consumer’s pocket. Crain’s is too dumb to realize that unreliable and expensive energy IS the goal. Our leadership feels you use too much energy and the goal is to make you use less, by shutting down plants and pivoting to ‘green’ energy in state that has a growing season, in a good year, of about 6 months. Energy is too expensive to… Read more »