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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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Yeah, never mind that voters pick their representative.
Next, communist step right up
What happened? Did Kodatt’s personal check bribe to Madigan bounce?
Since this story originated with Rich Miller at Capital Fax – Mike Madigan’s personal, loyal sycophant mouthpiece – then it seems likely that Madigan himself leaked the original bit of news to get ahead of other news reports.
My guess is that he was wearing a wire. But it will be blamed on something else. The feds rarely compromise their informants. ALthough I wouldn’t be shocked if this rep for one day dude moves to new mexico indian reservation in the next few months.