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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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They “Dissed” her — yeah — that is a good reason for hijacking an infrastructure project/killing jobs.
“‘It’s just been a disrespect to me and the community’” Translation: I havent been bribed enough to allow this.
Ha! I thought the exact same thing when I read it.
South African style politics on full display here. Special interest groups makes racial allegations….using slaves from a 160 years ago… as a basis to shake down a corporate expansion today. Everyone in the country wants to see this rail yard expanded as most rail traffic comes through Chicago. There’s a joke in the rail road industry that it takes a week to cross the country and another week just to get through Chicago. They’re expanding in an blighted area with low home values and lower population density. The families getting bought out are making far more money through eminent domain… Read more »
Excellent.