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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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‘Empowerment’ is a word that oozed into political discourse during the Clinton Administration. The term is designed to show both the alleged caring of a politician and the affirmation of the recipient of the attention afforded by the politician, usually in the form of access to taxpayer dollars. This access takes the form of outright grants or plum pensioned positions. I find the term to be facetiously pretentious and to be avoided. Anyway…another overuse of racial canard aside, it would be a miracle if the City Council was actually signaling a change in direction from the Friends and Family hiring… Read more »
Acre is pissed because he just missed a good paycheck with bebefits for lttle to no work. Chicago, what a city!
It tends to happen to DEI hires.