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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 will take a long-term expansion of the water department or a very long time. Digging down to the lead pipe connecting the house/ apt bldg private service to the public water main tap will require a full day’s labor for two laborers plus at least an hour of a plumber’s time and maybe more. Plus the new materials that will be used to replace the flexible lead conduit. A plumber and eight laborers can do four of these jobs per day if at least two of the laborer crews are experienced and work hard enough in the morning to… Read more »
Good job