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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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Democrats will never in a million years voluntarily give up their super majority. They gerrymandered it and they ain’t gonna mess with it. Illinois is about to get even darker blue in 2020 as masses of people come out of the woodwork to vote against Orange Man Bad; and I fear that even rural and exurban counties will go solidly blue as the zombies vote in Illinois to give Sanders one of about 8 states in the electoral college, as states like New Jersey and Minnesota are about to vote red against the avowed communist. It’s a sad state of… Read more »