-- 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 Chicago mayor can get a haircut after declaring barber/beauty shops closed. The Governor can send his family to one of his auxiliary mansions while staring into the camera and proclaiming: “…All In Illinois”. Forty thousand state employees get raises while millions of Illinois residents are unemployed.
I think I’ve figured out “Shared Sacrifices”….the elite share the bounty while the underclass (all the rest of us) share the sacrifices.
All animals are equal, but some are more equal than others