-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Can’t reduce the size of the City Govt. Chicago, the most efficiently run city in the country.
She may not lay anyone off, but she’s going to stop paying their salaries instead when she runs out of money. I’m sure that’s what she’s going at. “You’re not fired, you still have a job, we just can’t pay you any more. Feel free to quit if don’t like our new arrangements.”
In other words, Crazy Groot claims 1+1=8