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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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why is it Cullerton’s office who in charge of releasing redacted search warrant?
Of course all the good stuff was redacted. It all points to Madigan.
Who’s next!
Even if all the unemployed lawyers were hired to prosecute political corruption, we’d still have a century’s worth of backlogged cases. It would be easier to find a virgin in a brothel than to find an honest man or woman in the Illinois State Capitol or in what I call the Pentagram-portal to hell itself, a place that includes the Thompson State of IL building, the Dirksen Federal building and Chicago City Hall. H.L. Mencken said, “Democracy is the system where the common man gets what he deserves, and he obviously deserves to get it good and hard.” We get… Read more »
“We deserve what’s coming, sadly. Complacency sets us up for unimaginable hardship.”
Don’t blame ‘we’. I didn’t vote for these losers. The last time ‘my guy’ won a state office was in 2014 with Rauner.
There are plenty of states and places with well run democracies. My local suburban municipality is decently run.