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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 was willing to give Lightfoot the benefit of the doubt but this nonsense is pretty bad. The guy can’t find a job anywhere in the private sector? Goes to show you how worthless these alderman really are.
When you live, breathe, eat, and sleep nothing but the machine, you know nothing else.
That alderman Arena has a bad rep as an arrogant POS too. Local community orgs documented his facebook fights and trolling his opponent after he lost the election. Of note, the new alderman is basically a closet republican – even though he doesn’t identify as one – which is pretty crazy in Chicago. He’s not going to be Chicago GOP guy but, while I can’t say for certain how he voted at the ballot box, my guess is probably for Trump. The southeast side of Arena’s former district is totally ‘woke’ (independence park) and may as well be an evanston… Read more »