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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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All the comments below are accurate, but he is the best of the choices so far. It’s not like there are going to be a lot of high quality candidates in the hunt. At least maybe he will recognize that environmental equity, transportation racism, LGBTQ parades and statue replacement aren’t the big issues facing the City.
Just what Chicago needs, another life long do nothing Democrat “public servant” bureaucrat
Unfortunately one person will not and cannot make a difference in the city. The entire system is a web of corruption weaved together and connected by the almighty dollar. The current destruction of the city is being orchestrated by a likeminded cabal of evil doers. They can only be stopped by many good people working in concert. I just don’t think the people with the will to fix the city exist right now, especially since the left is so vindictive and violent. The only solution I see, admittedly far fetched, would be for the city to go bankrupt and then… Read more »
The problem with Chicago is the people that choose to live there. They’re all in on the grift.
Vallas is a perpetual loser.
Just like every other politician in Illinois
If this becomes an ABL election, he’s a shoe in! Anyone But Lori!