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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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Don’t worry. Mayor Johnson has it covered. He is absolutely confident he can separate you from any money you have left. And you love him for it because he uses the most intelligent of all political catchphrases in every speech he gives. “Tax the Rich.” When you are the mayor of a city populated by voters with non-existent IQ’s, you don’t have to worry about being too definite by what he means by tax and what he means by rich. You have the comfort in knowing that almost all the voters in your CPS educated city can barely print their… Read more »
Just what Chicago needs is another committee to employ Johnson’s friends.
All of the politicians’ discussion is focused on where to get more money from the taxpayers. None of it appears focused on how to operate within the limits of what is available now. They view the taxpayers as a bottomless piggy bank; their concern is over how many ways they can get into it.
That’s not what the voters want. Johnson didn’t run a campaign on fiscal responsibility. He ran a campaign on the “rich guy” paying and the voters ate it up. They are getting exactly what they want.
You mean it can’t be done the Johnson way? Make plans to save the world in a socialist way, then demand for Santa Claus to pay for it.
Pro-growth economic environment, increase expenditure responsibly, right size government programs, hold CPS accountable; this is hilarious. All that’s missing is a call to form a “Blue Ribbon Committee” for more study. Meanwhile, last one out the door please lock the door and douse the lights!