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Since immigrating to Chicago, Arellano said he worked toward his goal: to leave his children well-established, build a home in Mexico and save enough money to return to live in his native town and retire. He did it, always with his wife by his side.
Arellano also managed to buy his Chicago home, where he hopes his five children — the youngest 25 and the oldest 33 — continue to host the family gatherings, even if he is no longer here.
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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