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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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“When we published Driven Into Debt — our series looking at how Chicago’s traffic enforcement system unfairly burdened black and poor motorists ” Funny how one word – ‘unfairly’ – transforms this article from objective journalism into biased ‘social justice’ activism. Yes, the City of Chicago parking laws are draconian, and harsh, and onerous. And the penalties are too severe for the violations. And compliance is difficult. But to suggest that the laws unfairly ‘burden’ black and poor motorists more than other races is complete and utter garage. Black and poor motorists are burdened just as much as white, mexican… Read more »