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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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Will never happen! Period!! Most of the money earmarked for border jumpers never gets to them and ends up in the hands and pockets of top heavy administrators. Just like all the bloat in the school districts. How many assistant supers or assn’t principals does a school district need? Belvidere has at least 5 assn’t supers. They are hired to count all the other assn’t supers. So most of the money never gets to the jumpers. What does it really cost to house the jumpers in police stations or at O’Hare? Some food-bathrooms and a cot and blanket does not… Read more »
Best transparency is a federal fraud indictment
““Now, if you are looking for more specific items – what do you want to know about? How much it costs for spoons or forks?”
Uh, well, yeah, Mr Mayor. That would be nice.
Wouldn’t even be having this conversation if you’d explained who you were writing checks to, for how much, and for what.
Silly of us to expect that from guvmn’t, isn’t it.
Particularly now that you’re the guvmn’t.