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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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Dems select their state central committee by primary ballot. The GOP chooses by convention in a remote part of state. Their should be parity between the parties.
A well thought out and insightful article. It fully demonstrates something we already know. The GOP in Illinois, as statewide force, is comatose and in a death spiral. However, in terms of voting power it is not the Unions that have made this happen in the last 20 years. As I have said before, it is the demographics, Fewer and fewer White people, about the same number for Blacks and a tremendous rise in Hispanic and even Asian population. All three of the later racial groups are solidly and often overwhelmingly voting for Democrats. I have given details on the… Read more »
Yes, demographics are certainly a significant contributing factor, but it’s not just white people, as many of the deepest blue areas in the state are segregated 100% white: the entirety of the north shore and many northern and northwest suburbs vote D+60 much like the inner city does. However, as I regularly point out, a completely dead opposition party is very common in a one-party rule state, both Democrat and Republican. The Indiana Democrat Party is as useless as the Illinois GOP. In March of 2021, there was a story, you can look it up, “The Florida Democratic Party Has… Read more »
Blue State Blues…
Even the Union members will be screwed, don’t bet the farm on the bankrupt pension.