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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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“Secretary of State Alexi Giannoulias”. A recent visit to a SOS office I noticed all of the employees wearing uniform shirts that had the quoted line emblazoned on their shirts. Why? What if Giannoulias dies, what if he quits, what if he is not re-elected, what if he is indicted and so many other questions. A waste of taxpayer money to promote an egotistic elected official but the Secretary wants to innovate and save money. In the mean time spend that taxpayer money on uniforms where everybody can see your name. There’s a saying I remember from my younger years,… Read more »