-- 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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Because when you think of efficiency, you think of Chicago Govt.
“”As someone who worked in city government back in the 2000s, in days where there were mandatory furlough days and there were layoffs – that’s demoralizing to your workforce,” she said.
“I believe to the extent that we can, city government and state government and federal governments should be acting as a catalyst to spur economic growth.””
Government drives economic activity? We’d all be working for the government if it were her, just like communist Russia!