-- 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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“Commissioners should meet with hospital leaders in their districts and urge them to treat more patients for free.” LOL. I see. So let’s pass the buck to someone else, using the traditional Cook County Machine “business crusher” by imposing an unfunded, expensive mandate on them, so we look better. Brilliant! “Then the Illinois Supreme Court required civil cases like divorces be filed online statewide. Brown complied this summer. It’s been one giant headache ever since, she told commissioners on Wednesday. Attorneys and citizens need a lot of help to learn the new system.” No, they don’t need “help.” The system… Read more »