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"There was a time, not so long ago, when it would have been laughable to suggest Democrats kick Madigan to the curb. That time is over."
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 Hickey report cost just under $650,000 to produce. If it leads to Madigan’s ouster from the speakership, it’ll be the best $650,000 Illinois taxpayers ever spent.” Be careful what you wish for Crains. Things have been bad but they could get much, much worse. We could be the Puerto Rico of the continental US with infinitely worse corruption, a failing infrastructure and finances that are even worse than we have now. Some progressive caucus nut job could screw things up even more passing green new deals, sweetening pensions for Democrat constituencies, and legalizing actual infanticide. It’s like, being apropos,… Read more »
Illinois is the new midwest california. Chicago will start seeing the homeless more and more just like cal.They will pound the il taxpayer for programs that pols get the money,instead of the homeless.Its all comeing to you tax payer. The dems in chicago would not have it any other way.They love high taxes, that is why the vote dem all the time.Hey state retires that tax free pension will be tax able after fat boy gets around to it,That plan has been talked about all ready.I moved to a real sane state a year a go.You are not robbed at… Read more »