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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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“Those who drive spend an average of 35 minutes just to get to the city, according to the analysis.” 35 minutes to get to the city? LOL maybe they mean ‘city limits’. I just checked traffic now, and it’s 51 minutes from Deerfield Road to downtown and 44 minutes from O’Hare to downtown, which is low for a weekday morning, only because so many people have travelled over the long holiday weekend. These commutes downtown are one of the major reasons why commuters haven’t returned to the loop. Its just bad public policy to cram over 1,000,000 people into the… Read more »
Agreed 100 Pct — Hard enough getting workers anywhere to give up the benefits of remote work — much harder in Chicago where commuting involves a much longer trip, and crime thugs on every corner in the Loop