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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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I know it is hard to imagine but Preckwinkle’s replacement will be worse. She’s an old school Chicago machine politician which most of us despise but can tolerate some low level corruption. Her replacement won’t be a corrupt politician driven by graft but instead they would be an ideologue driven by the desire to force their narrow-minded ideology upon the entire county, and especially upon those that are unwilling. The next county commissioner will make Kim Foxx look like an amateur. They would be a Kelly Cassidy type freak running mobile abortion clinics throughout the county type stuff. It would… Read more »
Same thoughts. One progressive will run against 2-3 moderates in the Democratic primaries and win then tax any middle class and up suburb into oblivion.
Maybe, I think the moderate is Preckwinkle and there will be 2-3 progressives to choose from to the left of her. Preckwinkle will lose the primary to the most progressive democrat as has happened to most Democrats in our state primaried from the left. Preckwinkle’s soda tax was stupid and insulting and a money grab but it least had a the veneer of trying to reduce a cultural problem – diabetes causing sugar water – which is one of the biggest drains on the free county health system. Poor people drink too much soda, which causes diabetes, and then they… Read more »