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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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Dan Proft is on the radio now railing about how bad Illinois Republican leadership is. However, I think this is complete disingenuous, as I point out, all one-party states are like this. Weak Republican leadership is a symptom of the problem, not the problem itself. There’s no way to fix these problems until Democrats start voting Republican, and that’s not happening anywhere in the entire US in large enough numbers to flip the state red. There purple states are opportunities but the solidly red and solidly blue states are problematic. I don’t know what Dan expects. What exactly does he… Read more »
The GOP ‘establishment’ in IL has been happy to be controlled opposition for decades whilst pandering for crumbs from the Leftists Democrats. Guess with a super-super majority (by hook or crook) of Democrats no need to put up with the RINOs any longer.
I fully expect my vote to be stolen as Pritzker and Democrats have removed transparency from the ballot counter.
This is a problem in most one-party states. They steamroll over all opposition. Indiana is an even worse one-party state than Illinois, except it’s Republican instead of Democrat. The majorities are baked in the cake now in most of our political politics.