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The Chicago Bears and Chicago White Sox are being urged to cobble together one financial request for their stadium proposals that state legislators can consider rather than dueling plans that could box each other out. Representatives for the teams are hearing the same message from state officials as they jockey for public subsidies to build new stadiums. State Senate President Don Harmon specifically has told both teams there is little appetite in the General Assembly to approve separate stadium legislation.
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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