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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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Whether the likes of Democrats like Bill Cunningham vote yes or no is not based on the content of the bill inasmuch as how many votes are needed. Bill was able to vote no initially because the IL Senate Dems had enough yes votes for it to pass. Likewise, he was able to vote yes this time around, allowing any senators connected to SJW interests to vote no.
This is what a super-majority affords Illinois Democrats. The moderate ones or the ones who have Republican challengers are able to vote against party lines without actually changing the outcome.