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"Here in the dog days of August, the Labor Day holiday beckoning, most of us are looking for a break from divisive controversies. But bureaucrats and bureaucracies always need to justify their own existence, and pastimes as seemingly benign as swimming and gardening have come under attack."
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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BUREUACRATIC DICTATORSHIP: Lake Michigan Swim Club Shutdown, Evanston Tree Power Grab, Illustrate The Stupidity Of Petty Bureaucrats