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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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From The Expired Meter.com WHOSE LAKEFRONT IS IT ANYWAY? — Chicago May Extend Lollapalooza Contract, But Taxes Still An Issue – Crain’s Chicago Business, Chicago Tribune — FACT CHECK: Lollapalooza: (1) Creates An Annual Weeks-Long Lakefront Traffic Jam (With Downtown Street Closures Before, During And After The Actual Festival); (2) Destroys Much Of Grant Park’s Landscaping — Making It Off Limits To Chicagoans For Months; (3) Creates Intolerable Noise For Downtown Lakefront Residents; (4) Sets Up An Open Air Drug Market; And (5) Turns Lakefront/Downtown Streets Into A Mass Public Toilet – And Failed Mayor Lightfoot Refuses To Allow Any… Read more »