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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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The only reason to spend an hour on this is to see an illustration of how out of touch Illinois political establishment is, courtesy of that establishment’s boot licker, The City Club. Anne Caprera is Pritzker’s chief of staff and, coming from Hillary’s campaign, she guides JB’s attempted path to the White House. She says she needs more data to assess the election results, and shows how oblivious she is to the central problem that America and Illinois doesn’t want the radical left. See, especially, her closing comments starting here. https://youtu.be/PoBCZZfZuzI?si=S8-gOnTOyz4I9hBg&t=3744. She’s a radical, blinded by woke ideology. Then there’s… Read more »
I tried to listen but got bored. Same old-same old snooze fest. They chose G Hart’s ,who seems to be an anti Trump rep, as token republican for show which says a lot about Illinois pols & media facing up to reality is what stood out for me…. I think Illinois pols somehow NOT accepting the reality that -all the DEI progressive equity hustle crap is DOA DEAD!!, CTU/Brando & crew are toast!!, and there’s no more fed COVID $bucks$ coming to paper over all the debt!! is astoundingly what’s happening so far. A lot of excuses. (and I’m not… Read more »