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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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Pritzker should be nicer to the current admin if he wants to fix the state’s embarrassing road conditions because he can’t do this alone. Illinois’ lack of planning for needs of its citizens means it is always dependent on a funding from the government. Of course he will take all of the credit in the end.
Here’s what’s in Illinois’ $50.6B six-year infrastructure plan | Capitol News Illinois