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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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A Cook County grand jury subpoenaing an alderman’s info? This can’t really be happening.
Don’t be surprised if Krupa – the challenger – is the one actually being investigated. Cook County doesn’t like nobody nobody sent. And Krupa is the definition of a nobody. There’s a price to be paid for challenging the most state’s most powerful power broker.