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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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“Participants, especially African Americans, said the biggest reason for wanting out was racism and how that affects policing, job opportunities and neighborhood development.” Not to discount what African Americans say but come on. They’ve been told their entire life from the moment that they are born, then throughout their education, and everywhere they go, that racism is the cause of their problems. Except that the City has been run by D’s for 100 years, their neighborhoods all vote D, their businesses are all D, their neighbors are all D, the entire system is all D, the employers are all D,… Read more »
Totally agree. Not that there isn’t racism here. There is. But most other places are no better and many are much worse.
Where is the racism in Chicago, a city run by Democrats, of all races and ethnicities now for 100 years? Is the racism in the ultra-progressive teachers and administrators in CPS? Is the racism from the minority cops who work and live in the neighborhoods? Is the racism from overwhelmingly Democratic employers who choose to employ people of all races, colors and creeds in Chicago? Is the racism from their own government officials whom they’ve been voting for decades? Where exactly is the ‘racism’ in Chicago? because quite frankly, everywhere I look, I don’t see racism. I see lots of… Read more »
“Between 2017 and 2018, 114,000 more residents left Illinois than moved in from other states. Those who left mostly moved to Florida, Texas and Indiana, IRS data shows.”
This is the Republican middle class fleeing the state. It happened in California too and now the state is solidly blue by a large 2:1 or 3:1 margin. IL is still a 45R/55D state but it’s quickly becoming a 2:1 or 3:1 all blue, all the time state. So sad.
Because the grass IS greener on the other side. Lower property taxes/ less pension problems/less taxing bodies/lower tax’s/less school districts/overall better run governments. OH! did I mention lower taxes?!!
why support public-employee parasites & lawyers?