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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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I’m curious. If you believe that fighting them is the way to go, what do you envision as the way to do that? Is your thought that the populous will one day wake up and realize their error and have a miraculous change of heart? Do you think that if you get rid of guys like Madigan and Burke, things will change. What’s the strategy? Swinging your arms like a windmill at the big bad boogie man does nothing. Complaining does nothing. Translate. What does fighting mean?
A case in point: I’m having to watch and listen ad nausea it seems to commercials from the absolute moron Sorensen here in CI – I mean just look at the district Pritzker and the Leftist Democrats concocted to keep this buffoon in office for as long as he likes https://www.congress.gov/member/district/eric-sorensen/S001225
The district 17 is clearly illegal, but the courts are rigged that would rule on its legality. Pritzker lied his big butt off about ‘fair maps’ to trick voters out of their vote, and once the trick was done so were fair maps. It’s over in IL.
It’s a bust out. it’s nowhere near Detroit proportions because the unions are thousands strong, making good salaries and the pension checks are still being cut. It’s just musical chairs. The connected will be long gone when the music stops. The poor will bear the brunt.
Why does Toni Preckwinkle get a pass from the media? Is it because most voters don’t realize how responsible she is for a lot of the crime?
The Mob bosses always knew to keep a low profile. Stay out of the eye of the public. It was much easier to steal that way.
The citizens of Illinois, New York, and California know all too well how far-left Democratic administrations can drive cities into chaos and decay. It starts in the cities, but like a spreading cancer, it soon infects the entire state—county by county—until collapse becomes inevitable. No matter how bad things get, voters continue to support these destructive policies, much like Detroit, where decades of poor leadership led to the city’s near ruin. You can flee to the suburbs, but the decay follows, consuming everything in its path until it reaches the federal level. The uninformed don’t realize what’s happening until it’s… Read more »
Illinois is ripe for takeover by SV PE Trillionaires.(Using leveraged OPM loans from the taxpayer-backed insider-only-access fiat banking system supported by those who believe promises of ‘hope’ and ‘compassion’ from politicians.
It will be an improvement.
People will live better lives in caves having acquired rudimentary skill sets of survival.
Real life experiences and stories from people who have lived, worked, played and enjoyed what the city had to offer and all of them repeat the same message of the despair and sadness that is the city now. Why? Perhaps democrats in charge for decades stoking the fires of failure and blind or oblivious to the downfall. I myself left the city where I was born and raised. Attended Catholic school, worked for the city and saw what was happening 25yrs ago. Planned our escape and as soon as possible left. Still in Illinois but over 100 miles away in… Read more »
Staying in Illinois could prove to be your big mistake.
Tough piece but true. And it is a double whammy for Chicago. The statistics that Wirepoints has covered re prosperous young people not coming back to or staying in Chicago is one strike against the City. And older folks with some net worth will be retiring off and moving to their second home locations as Cass points out. The only folks with some net worth who will stay will be the middle aged who are handcuffed to stay here by some family health issue or elderly care, or a job that locks them in here like a dental practice, small… Read more »
This is ridiculous and pathetic. You’re being taken for a ride if you let folks like Kass, Proft and others convince you to give up and move away – when Chicago and Illinois management are universally hated. The rational choice is to organize and kick them out (both socialists and Proft), but you’ll never hear that here. Johnson could have a 1% rating and they’ll still play the same tune.
You should contact a former commenter on this site to see if you two can join forces and show everyone the way. His name was Dave Hardy. Ever hear of him?
Dude, with Pritzker they’ve rigged everything to ensure near permanent rule. The Leftist Democrats and public employee unions have all of it. It’s over for Chicago and IL.
“Chicago and Illinois management” are not universally hated. In fact, the voters gave JB Pritzker 5 years ago the most votes of any IL governor ever, and Democrats are so popular that our legislature has a super-majority of Democrats now and is likely to pick up at least another 5-7 seats. I have no idea what you are talking about.
Don’t feel bad, Debstor, Publius doesn’t know what he’s talking about either.
You should stay and fight. Have fun. If you think you will change anything, you are deluding yourself. I lived all of my life until recently in Chicago and Illinois and fought the democrat masters every day with the hope that people would wake up and change the way they vote. The fact is the people of Chicago and Illinois are mostly brain dead slaves to their democrat masters. They like being slaves since it alleviates responsibility for their own lives. Democrats just invited in more slaves in the form of illegal aliens. So please stay and fight. Enjoy. As… Read more »
Who are still the Brando believers and make up his dismal 27% approval rating at this point, besides CTU members and a few N side WBEZ/NPR White libtars types, would make for an interesting pol. I’m sure, at this point, the Latino community has had enough. But most importantly has the Black community had enough? My guess is they have…..those front yard BLM signs are looken might “raggedy” at this point.
Thank you John Kass for summing up the truth about Chicago. It was a relief to leave that city.
Mr. Kass offers no hope for the city, nor should he. It is already years beyond the tipping point. At this point, the only two remaining questions are:
“Where is Chicago on the death spiral timeline?”
“Will Chicago take down Illinois with it?”
Excellent piece, and the pic looks awesome – so healthy looking!
So, now what? Yes, like the classic Iron Maiden song ‘Run for the Hills’. The Leftist Democrats are just fine with controlling one of America’s largest sheetholes.
Good one. Molly Hatchet’s “Flirtin’ With Disaster” comes to mind, too.