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"Bailey isn’t palatable to most regular folks, especially in the Chicago area he loves to trash. No serious candidate can win the job of governing Illinois if they isolate our largest regional voting base."
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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Elections are about votes and in Illinois the votes are in Chicago land like it or not. Bailey has burned his bridges with Chicago voters and in my mind that makes him a hopeless candidate for the Governorship. I would suggest a more moderate candidate on the issues to be a potentially successful campaign winner but I am certainly no expert…just sayin