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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 read this article and can’t help but laugh. It reads as a Republican Party commercial.
The author writes: “…but as some point there must be space to demand accountability for the ways the city redirects tax dollars away from the places with greatest need”
THERE ALREADY IS. ITS CALLED VOTING AND THE CENTURY LONG DEMOCRATIC RULE OVER THE CITY HAS LEAD TO THIS. BLAME THEM.
Yes, which makes this a good time for a reminder that we post articles from all perspectives.
I recognize that. I in no way believed your posting of it was an endorsement. Please keep up the good work.