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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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“If cutting spending isn’t the answer, then raising taxes is. And that’s a significant challenge for one simple reason: Most people don’t like paying taxes. Yet, despite their antipathy for paying taxes, everyone demands, consumes and benefits from the public services and goods taxes fund. So if folks really want the state and city to invest in the core public services needed to build a decent quality of life for every person, whether rich, poor or in between — and have the capacity to handle public crises in a manner that minimizes human suffering — they have to support elected… Read more »
Future tax hikes will serve to provide for illegals. City & state services? Come on man.