-- 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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The large gap between union members who voted yes despite not really knowing what they were voting for is quite telling.
I still find it very suspect that the unions announced the passage of the amendment before the final votes had even been counted. How did they know this?
Math. It was pretty simple to predict once you did the math.
Math counts votes? Who knew! I thought counting the votes is how ballots were tallied!