-- Connecting the dots between our economy, government and business --
"The protesters at the mayor’s house... are younger residents who feel the mayor and trustees haven’t listened to them or taken them seriously. So extreme measures were warranted, their defenders argue. No. That’s not how democracy works. You don’t get permission to destroy property and harass an elected official and his family because you feel ignored."
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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