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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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“The first Hispanic ever elected to the state Senate and the first to serve as assistant majority leader” Yes, the most important qualification for a position is someone’s race or ethic identity. In many circles ethnic identity is preferable to ones alma mater. Me personally, I think one’s ethnic identity as a qualification for a job is even less important than, say, family name, and I voted for Bushes three times in my life (but not Jeb!). I would tend to think experience and education are the most important qualifications but I’m just a middle aged white guy and on… Read more »