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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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The only “reform” that public mismanagement entities know is the reform that cost taxpayers more money.
I can’t see the article, since I abandoned the leftists of the Trib years ago. If the blurb above is any indication, the dread disease Verbumsem has become virulent. Verbumsem causes acute sufferers to speak large quantities of words that can make the sufferer sound intelligent and caring, yet the words have absolutely no meaning. The executive director-caused transit crisis hasn’t been in the news lately, crowded out by moronic political animals rushing to defend MS-13 gang members and seditious calls for violence by America’s worst governor.. The Day Drinkers of the Civic Federation stepped right up to continue the… Read more »
Epic comment, RR, epic. But you got me beat on what Verbumsem and stunades mean. Am I behind the curve on some slang?
It’s Latin. Roughly translates as ‘I am a word’. Been a while…
Stunade is Italian for…idiot.