-- Connecting the dots between our economy, government and business --
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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Hmmph, and what do you know, JB has called the legislature back into session. Wonder why?
Hopefully the legislature will get to unfinished business, we really need that new green deal right now.
But Pritzker doesn’t care–he feels he can wipe out everything and what he states is what is to be.
The Illinois citizens pay his salary. You know he won’t donate like Trump does.