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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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PPF will say “this does not mean that a literacy plan has to be completed”. “Literacy” and “plan” are not defined. “Why do we have to make a plan if we don’t have to follow it” “it would be impossible to follow this plan” “the only way this plan works is if it is drafted in florida.” “Jan 31 2024 is not defined well enough to set an actual deadline”. “Just because it is called a literacy plan does not mean it has a single thing to do with literacy and or planning”. “We don’t have time to make a… Read more »