-- 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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As a former IDOC employee, with two different stints living in SPFLD, the real issue is NOBODY wants to live in SPFLD. It’s a boring, backwards dump. You cannot attract talented people to that abyss. Even the Legislators, once session wraps up, hit the highway going 90mph with their designated license plates. It’s a wretched place. The State employees locals there are arrogant and believe they are in an elite class. And, finally, there are only two baseball teams they cheer for: Cubs and Cardinals. The White Sox don’t exist(living there in ‘05 World Series). P.S. it did have nice… Read more »