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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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At least WBEZ is being honest, recovery isn’t coming. In fact, more of the fringe and recently gentrified neighborhoods are going to again be overrun by the unwashed masses. Irving Park, Western and Roosevelt will be the new ‘Maginot Line’ by which no one can safely cross. As the police department shrinks (due to sleath budget cuts disguised as Defund the Police movements), the residents of the southwest and northwest sides will see their property values decline and become overrun with criminals and other city residents desperately seeking a community with a functioning grocery store and retail presence. This is… Read more »
Irving Park, Western and Roosevelt is pretty big.
Looters should be injured.
I was a little surprised about Naperville.
Racial profiling is to be expected. No good suburb wants to be another Harvey, Maywood, etc.
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