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Ald. Matt Martin’s proposal calls for providing a 6-to-1 public match — up to $3.6 million for mayoral candidates, $180,000 for candidates for city clerk and city treasurer and $150,000 for City Council candidates. Martin noted publicly funded elections in New York City helped that city “expand the diversity” of its City Council “in more ways than one.”
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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So hard working taxpayers must now fund the vanity project campaigns of political buffoons? No wonder Martin is seen as one of the stupidest jackasses in the City Council.