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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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>>>Mayor Lori Lightfoot’s proposed improvements in city services — such as for police, affordable housing and expanded mental health services — once federal funding for these needs expires?<<<
I stopped reading right there. Higher taxes when the Federal funding stops…I have heard this before.
I noticed that we haven’t heard from PPF in a while. Guess he turned his attention to the Sun-Times.
That ‘letter to the editor’ is so stupid. it’s a rambling nonsense of strawman arguments and false choices. Then it ends with “If so, all you’re doing is demanding that costs be cut at the expense of lives and futures.” So, if grifting pensioner can’t get his $100,000 a year state tax free pension, then his life and future is being destroyed, according to Jeff in Irving Park.
The stupidity of Democrats like this guy is why your city and state sucks. These people couldn’t argue their way out of a cardboard box.
Only if it specifically states you can’t buy votes with any savings. There it’s nearly perfect, a win! win!