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.
Typical JB bluster and smoke screen. 750 jobs over five years? When are the jobs showing up? Front end loaded? Of course not. Back end arrival? Maybe. Let’s watch. Of course there will be no follow up over five years to see if there is any actual performance. IBM won’t say a thing and the press will forget about it in a month.