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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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Another nail in the Sox’s coffin. Rep. La Shawn Ford basically said he wants a Target strip mall and mixed use subsidized housing there instead. Chicago can’t support two baseballs teams anymore- especially a south side team – in an era where there are half a dozen cities are hungry for baseball. Sox fans don’t even live in the city anymore. I heard on the radio once, several years back, before this historically awful season, if I remember correctly, fewer than 20k or 30k people on average watched a Sox home game on broadcast TV. That’s awful, really bad. Polish… Read more »