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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 Cliff Notes…”again called for Chicago-area transit to receive an “equitable distribution and fair share of resources” No, Mayor Notes, the RTA doesn’t get an ‘equitable’ anything. It gets the tax revenue designated for it via taxes. That’s it. That’s their budget right there. When the Coof and telecommuting destroyed their charges’ ridership, the executive directors chose to spend as if it were the glory days of 2015 at Metra/CTA/Pace. The Autopen-in-Chief’s henchmen looted the Federal Treasury for most of their time in office, throwing money around to their friends and pals to keep them in line. No one was… Read more »
Perhaps the people using it should pay for it…
Blasphemer!
Maybe he should consider restructuring management and fire political cronies and unqualified personnel before asking for more money.
I envy your wonderful imagination.