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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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“Words mean things.” – Rush H. Limbaugh III The Block Club typists use the term ‘worker’ as many in leftist media do. That seems appropriate, as the term comes from Marxist tenets. I prefer the erm ’employee’, as this more accurately describes an active participant in a company’s workforce. Using the term ‘worker’ also belies those who collect a paycheck for a living, without the requisite attendance or effort that a good employee exhibits (see: Patronage Hires). The CTA is running more trains. For whom? Mainly for CTA Employees, since the riders haven’t returned. It will be interesting to see… Read more »