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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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…and on a totally unrelated subject, there is a sudden rush on ammo in the state of Illinois…..
no….its not indicative of what happens with any reform legislation…its what happens when an incompetent political class punch above their weight
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Who is kidding whom here? They already have passed it and now, after the election seek to somehow end it knowing what a disaster it is going to be for certain areas. Personally I hope it does go into full efect so that the voters can see in their own faces what they voted fior when it comes into their driveways and front yards
Agree. But will they admit that they voted for it, or will they blame the Conservatives? That is the question. These idiots are in total denial and will blame everyone else except look in the mirror and admit they made a big mistake.
It’s going into effect. And when it fails miserably, they’ll just say that they didn’t reduce bail ENOUGH and double-down on their stupidity. One party states frequently go off the rails when there is no opposition. Look at china now, three years later with their zero covid stupidity, and no one to stop them. This combined with the empty cities, the entire economy is a mag lev train headed one way off a cliff and no one is there to stop them. At least even in Canada with the truckers the opposition party kind of forced the little Castro to… Read more »
It’s Trump’s fault … everything that’s wrong is Trump’s fault.
Stupid chickens.