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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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This guy has the glow of an idiot about him! The true indication of absolute absence of common sense. Understands nothing and therefore doesn’t comprehend problems. A Democrat!
How come almost every thing administered by Illinois-Chicago politicians is typically among the worst in the nation? Oops, now I remember, it’s Bruce Rainer’s fault…
As I’ve always said, the problem with Illinois is the people who live here…A few hundred years from now, when the US breaks apart, IL is going to be this resource rich island in a sea of red american conservationism, and no IL resident will be willing to take up arms to defend themselves, and we’ll just be broken up and absorbed into the whatever regional government exists at the time and mined/milked for whatever natural or human resource we have. The people of IA, IN and WI might fight for their state against a foreign invader. This state full… Read more »
You state this as a logical, maybe certain eventuality. It might also be the musings of an mind unduly bent to a set of favored predilections. Your “truth” may not be the one that matters. Life often evolves in unpredictable ways.
Whenever I hear of Burke, I always think of the best book ever written about Chicago corruption, “When Corruption Was King” by Robert Cooley. Cooley was the brave lawyer who turned on the Mob and triggered all of the Federal corruption trials in the ‘90’s. He was taken off the case by the FBI when they thought that his life was in danger. Cooley’s biggest regret was that he never got to finish his work and nail Ed Burke, who he knew was dirty. This was decades ago! In a shining example of just how corrupt Illinois is, never forget… Read more »
I knew Cooley, I’m mentioned in the book and the insights of his experiences is overwhelming. Politicians of all sorts, cops, judges etc showed exactly how corrupt the entire system was top to bottom. Mr Cooley called me the day after he came out as the “mole” and assured me I was a good guy he trusted and not to worry about anything if I was concerned. I have an autographed copy of the book.
Burke will most likely die or be considered to ill to stand trial by the time the case enters court. It’s called the politician’s defense strategy.