-- Connecting the dots between our economy, government and business --
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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Crain’s is right about the primary results yesterday, but I maintain my view that a considerable majority of Illinois voters are moderates. It just doesn’t get reflected in elections.
The problem is the “moderates” on the Democrat side are Madigan-machine politicians that inspire no one. Zalewski is a good example: reasonable suburban Dem who’s a solid D but isn’t going to go too crazy on progressive extremes like defunding the police. But he was lazy and lost. His voters were lazy and didn’t show up. His opponent, Rashid, had a motivated ground game that was just enough to overcome an apathetic voter base. Progressives will ALWAYS show up because they live for this shit. Same in the city. The NW side candidates who were considered “pro-police” were not great… Read more »
Unfortunately the moderates also appear to be apathetic. Classic example of a voter feeling like their vote doesn’t make a difference, so why bother?