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Many Chicagoans wouldn’t trade the city — its lakefront, skyline, energy and diversity — for the world.
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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Moved to AZ 15 years ago and my sole regret is not getting out of Illinois sooner. Figure just in my Real Estate appreciation and money saved on property taxes have amounted to $400K over the course of those years. Not to mention all those other “special” Illinois fee’s. I honestly can’t figure out why anyone is left there.