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"This is not poor leadership, but an absolute lack of leadership. I have lived in Illinois my entire 63 years and will be retiring soon. J.B., will you do what it takes to keep me from taking my money in retirement and moving to another state? You can be certain that there are many like me."
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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Absolutely nothing, in his state of the state he said we are making great progress in Illinois, this has been a great year for all ( B.S ). The only progress being made is more and more people leaving.