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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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This civil case might suck – is there a private cause of action for eroding democracy? Probably not. But I’m sure somewhere there is a federal election law that was violated with the sham candidates. That’s what will bring him down, I think. And to think he would have won anyways without the sham candidates, that’s the shameless power grab that shows Madigan for who is truly is. He’d be content as a minor warlord with a handful of fiefs if he lived 1,400 years ago. But in the modern world he’ll settle for speaker of the house in a… Read more »