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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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Does this qualify as news to anyone?
All the newsworthy topics are ignored, but this obvious fact gets a headline?
Speaks volumes, doesn’t it?
Ah well, I won’t subsidize the wokesters infesting The Trib, so I can’t read the article. Will Johnson asserts that trains and buses are full, but the ridership stats do not support this claim. According to the CTA’s own data CTA rail ridership is 34% of what it was in 2019 and 31% of the high water mark of 2015. Will also says that more would ride if their ride were more secure. He’s close on that point. It’s not the trains that are less secure, it’s the city itself. Years of intentional mismanagement of the criminal justice system in… Read more »