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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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“It requires voters to prioritize ethics reform at the ballot box, and it requires political leadership willing to light a blowtorch. ” …but but but, Orange Man Bad, voters can’t ever be expected to vote for the ‘other’ guy, the Republican! I mean, in many Illinois districts, like now charged State Sen. Martin Sandoval (D-Federal Prison), HAS RUN OPPOSED IN HIS PRIMARY AND GENERAL ELECTIONS SINCE AT LEAST 2008!!!! Think about that for one second…no one, not a single candidate, has ran against Sandoval, from ANY PARTY, IN ANY RACE since 2008. This isn’t Democracy, it’s insanity. Because Orange Man… Read more »
Sorry, UNOPPOSED, not opposed! Typo!