-- 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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Yeah, only the downtown area. What about the rest of the city? I want 400 national guard member setting up check points at the entrance to my suburb.
Pigster called up the NG for one reason, to protect his hotel properties and his two multi million dollar mansions in the area where riots were occurring. As for the small business owners and large chain stores, too bad.
About time! Where the hell were they yesterday? No planning and no leadership skills by the mayor and Brownie. They should have called out the National Guard yesterday and pulled out the fire hoses until they arrived.