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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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My gut feeling is that the implementation of most of these laws may never come to fruition. As in the future, the bills get watered down, delayed and maybe even scrapped. That’s why the ‘reforms’ are pushed far into the future. The backlash against this will be harsh, especially with crime being up, this police reform bill is a step too far for the population. You can’t have 100 of 102 counties against this and expect a tiny minority black caucus’s pet extra-judicial justice law to actually be implemented throughout the state. We may even have sanctuary counties that decide… Read more »
Of COURSE he does not have any personal safety concerns – after all he lives in his “Billionaire Bubble”, and that includes extensive personal security to protect him from having to interact with any “riff – raff”…