-- 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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Illinois and Chicago don’t need any “rescue” from their self created financial mess. Citizens and taxpayers in financially competent states owe nothing to the corrupt politicians and their gredy public sector union masters in Illinois, Chicago and Cook County.
Fantastic news for the rest of America. The corrupt Illinois Democrats need to look at real solutions but will instead raise taxes to bail out their Public Sector Union overlords. The citizens and taspayers can go pound sand.
Sadly but not surprisingly, the Tribune doesn’t lay blame where it rightly belongs – Nancy Pelosi and the Democrat ‘leadership’.