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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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His intellectual laziness proves the article wrong
Aesop’s parable of The Ant and the Grasshopper: “One summer’s day a Grasshopper was hopping about, chirping and singing to its heart’s content. An Ant passed by, bearing an ear of corn he was taking to the nest. “Why not come and chat with me,” said the Grasshopper, “instead of toiling in that way?” “I am helping to lay up food for the winter,” said the Ant, “and recommend you do the same.” “Why bother about winter?” said the Grasshopper; “we have plenty of food now.” The Ant went on its way. When winter came the Grasshopper had no food… Read more »
The article is unreadable, starting with the pronouns. Yes, I understand that this is the woke style book and not a mistake. And this is a university professor. I have said it before- the universities have a lot to answer for.
I was going to read this article but decided to take a nap instead.