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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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I mean, Eddie Johnson came across as such a nice guy on TV and at press conferences too. But the second city cop blog hated the guy and the rank and file despised him. But they don’t like anybody so I didn’t give it much credence. He seemed to me at least like he was doing as good as job as he could do within the confines of a big city police department. We’ve all seen The Wire and I took him at face value. Until we found out that he was out drinking with his mistress who also happens… Read more »