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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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The cost per mile of this DEI fiasco would ordinarily get you a Bullet Train right-of way built. This redundant rail line looks like it is getting built to keep POC off of Metra trains for fear of frightening off non-POC customers. Can a transit line be racist? I don’t recall an active station on the Rock Island District at 47th Street back when the Robert Taylor Homes still housed low-income people, but there were CTA Red and Green Line stops in the area. This line carries on that fine tradition. The costs weren’t ‘hidden’ in the classical sense. They… Read more »
Look how long it has taken to get up to 99 mph between Joliet and Bloomington and still is not at track speed.
The notion of getting away from Joliet as fast as possible is enticing, though.