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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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Stop reading at “Campaigning for 5th term”. Sounds like a king to me. She’ll easily get re-elected because the “liberals” of Cook County actually prefer kings. Since when did even the low morons in Cook county believe that the democrats give one crap about the taxpayers? Taxpayers don’t matter at all in Cook county. They never did. Democrat constituency is not made up of taxpayers but tax takers. I support Wirepoints efforts to get people in Illinois to understand why their devotion to the democratic party is actually suicidal. But it is hopeless. The vast majority who remain there are… Read more »
Somehow, minimal blame gets attached to Toni Preckwinkle for hiring a politically connected incompetent firm from Texas that has a history of screwing up tax systems. And, she will get reelected.