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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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“So, will Madigan be indicted? I don’t know. If he is, you can bet the US attorney is confident he can convince a jury — and higher courts on appeal — that Mike Madigan is guilty of illegal corruption.” Dude, every citizen of the state not from the SW side of Chicago will vote to convict Madigan on every charge regardless of the evidence. Madigan isn’t walking under any circumstance. Everyone knows Madigan is really, really unpopular. Madigan hasn’t been indicted yet because HE is the rat and has likely been cooperating with the Feds this entire time behind the… Read more »