-- 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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I’m shocked someone from Evanston is all for it (sarcasm for those who don’t pick it up). Spend everyone else’s money. And don’t forget, like the increase in car prices, all income’s go up over time. So gov’t will get more even with a flat tax. Come on. There is just nothing unreasonable about asking (Actually insisting) government be responsible with “our” money. Vote no.