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“I need Chicago to know that what we’re doing is working,” Johnson said after the hearing.
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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Wonder what it cost the City and state to coach this pinhead to “stay on message” at these hearings. Boston Mayor spent $650K on Prep. This pinhead is either too stupid to see the damage he is doing to the City and state or he should be held criminally responsible. His message seems to be “pay no attention to what you see with your own eyes…just listen to me.” He and his handlers are grifters and he is a moron.
Just like Pritzker listen to me I will save you.