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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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Rahm needed a way to go after the union, he already fired the chief. But he wouldn’t dare touch the union on his own. But a “task force” lets him do so by proxy. the union runs the force. And Rahm needs votes from the blacks, Loading the union contract with the laundry list of reforms he’s sold to the voters is the next step. But those collective bargaining negotiations won’t go well next time. And Rahm gets what he needs, a Villian worse than him, he will make the union the Villian in 2017 and he will be the… Read more »
The good cops covering for bad cops makes them bad cops too. They could always quit but they would lose that early retirement and gravy pension.