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“Because of the public benefit,” Johnson said when asked how he will make a progressive case for the proposal. “Look, these pictures are miraculous. We are talking about thousands of lives that will benefit. … Think about how long people have been waiting for investments like this.”
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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Fair to ask if Johnson is looking for a job with this.
This guy is so OUT OF HIS MIND!