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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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Not sure I would trust the current City Council to write anything better than what’s going on now.
Only in crooked Illinois and Chicago would it be allowed for the Mayor to appoint the people’s representatives without an election. And only in crooked Chicago would the government be so bold and arrogant to appoint another family member of the vacated seat to take the seat…how in the world is that democracy? This dude is not qualified, has no experience, but hey that doesn’t matter. I guess he knows all he needs to know about graft and back room deals, so all is well. These jackasses scream about how Trump is impacting democracy…well, here it is right in front… Read more »
He follows or uses rules?