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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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This is how the feds are getting at Madigan. His inner circle has been on the take from ComEd for ‘lobbying’. These lobbyists are all allegedly close to Madigan and have his confidence and ear. That’s why ComEd was giving them excessive amounts of lobbying money, because they had a direct line to Madigan. Now, here’s the thing – why does Madigan care if all his friends and associates are on the take from ComEd. What personal interest does Madigan have in ComEd spending hundreds of thousands of dollars paying his closest associates to lobby him? McClain got $367,000 in… Read more »