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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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The obvious solution is that the ‘white’ wards will forced to give up at least two to three reps for ‘latinks’ because the ‘black’ wards refuse to cede power. Equity of course, that’s going to be the excuse in the soon to be proposed black caucas map. My guess is that the NW side (despite a growing white population) will lose one or two of it’s wards as the neighboorhoods are carved up block by block, which most certainly includes Jim Gardiner’s Jeff/Irving Park ward – an island in a sea of latinks – will most certainly be turned into… Read more »
Anyone can see that the future in Chicago is going to be more Latino. The city government is currently over-represented with Blacks, who are failing miserably at governance.
I look forward to our future Latino leaders, and seeing Congress Parkway and Lake Shore Drive renamed for a Latino.
Be careful what you wish for. The black leaders are schooled in old school machine corruption in the ways of Ed Burke, such as alderman accepting $500 bribes for zoning changes and such. But at least four of the junior hispanic alderman are ideological zealots and members of the Democratic Socialists of America. They aren’t driven by power or money – they are driven by ideological pureness. They call themselves the Socialist caucus. There used to be be six members total (one white, one black and four hispanic) but now there are 5 because Ald. Hernandez was kicked out because… Read more »