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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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Meanwhile voters: “Thank you sir. May we have another?”
Things came to a head when Democrats abdicated their duty on behalf of St. George Floyd. Once that genie was out of the bottle it’s hard to get it back in. See Detroit for the ghost of Xmas future.
Reginald Dwayne Betts, a 16 year old honor student in Prince Georges County (he was enrolled in AP Physics and had designs on Georgia Tech) committed a carjacking in Alexandria Virginia. He was tried and sentenced as an adult, with the judge commenting that prison – he served 7 years – was not perhaps the best thing for him but that he was bound by the law – sticking guns in innocent people’s faces is a serious thing. Mr. Betts, a very bright guy, navigated prison by virtue of his literacy and communication skills. While prison is a miserable place,… Read more »
If the average carjacker in Chicagoland spent 7 years in prison I’d cry.