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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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“Under the proposed legislation, DCFS employees would be granted the same protections as police” Well, in “woke” Illinois, I’m not sure what that will amount to – It’s hard not to get cynical about this sort of thing. A state employee is murdered by someone who likely has a lengthy prior arrest record that in most cases never resulted in either charges being filed, or a sentence that included incarceration. Democrats reverse course, and rush to protect public employee union members from a failed criminal justice system that also put’s Joe-n-Jane Sixpack at daily risk of being victimized by thousands… Read more »