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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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““I can confirm on the record that Justice Burke did not know who was or was not a client of Klafter & Burke in 2011 and still does not know who may or may not be a client of Klafter & Burke to this day,” court spokesman Christopher Bonjean said in a statement.” So the ignorance defense. She was ignorant that her husband was representing litigants before the IL Supreme Court. I mean, this is the Chief Justice here. I can’t believe the stupidity of some of the these people in Springfield. I mean really, this is her defense, I… Read more »
What? There’s no ‘there’ there. It’s all above board. There’s no corruption, or appearance of corruption. it’s a conspiracy theory to say that anything improper happened. There is simply no evidence that there is any wrong doing. These people are Democrats, so its OK.
Debstor, your snark never ceases to put a smile on my face. And for those of us into that sort of thing: I suppose Illinois has to be useful for something, right?
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