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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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Cant open, but read on gpogle news. The g. hinz linked articale– says the final completed state owned transpertation center could/would be handed over to the pension funds in asset tranfer?. Still confused, is this mega deal part of $45 billion capital bill?
Who knows. Dozens and dozens of good questions like that will be answered only with time, if ever, because of the length and complexity of all the legislation dumped in the last 48 hours. Be careful what you read for now.
Yup, gigantic bills, taxes and project that are hidden from the public and only voted on at last miniute..and zero outrage in the press and next to none by spinless reps
WTTW’s Chicago Tonight has some good commentary and reporting about who’s really in charge in Illinois especially Amanda Vinicky. This goes on in ALL the public school districts all the time who make deals behind closed doors never ever open to the public/media/or even politicians for scrutiny until AFTER the contracts are ratified. There should be at least a 2-3 weeks prior notice for all to scrutinize contracts to see what they demand before we open our checkbooks blindly.Think of it this way. Do we sign a car loan or mortgage first and the let the bank fill in the… Read more »