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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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As long as Senator McClure and the Illinois legislature pays the eventual multi million lawsuit payouts, indemnifiys any officers involved and no criminal charges against officers that sounds like a good idea.
Correct. Cook County juries will award people tens of millions of dollars even when the police don’t hurt anybody, even though it was 100% the fault of the speeding criminal fleeing an arrest. Cook County juries nearly always find the police to be at fault and award insane sums of money to injured people.