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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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Of course the wannabe Santa Claus Mayor Cliff Notes would oppose reducing the scope and size of the Federal bureaucracy. Mayor Notes couldn’t manage a one-holer outhouse, much less the City of Chicago. Mayor Notes’ words should be listened to, then the exact opposite course of action taken from any he suggests. Mayor Notes specializes in exactly what not to do. This is nothing more than confiscated taxpayer money wasted on another feckless lawsuit challenging reality and common sense. Dem operative Susan Illston lives up to the reputation of a Blue State/Blue City Democrat-appointed district court judge only too willing… Read more »
Why does the press even cover this guy ? Why does anyone care what he thinks ? He’s the worst mayor the city has ever had and I’d turning Chicago into Detroit west