-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
I love WTTW news, but you might want to watch who’s pointing the finger at whom after Brandis Friedmans’ “glorious impeachment” comment!
Yes, among her other infractions, though I was not familiar with that one. Paris Schutz, on the other hand, is an absolute gem. His reporting is always just the facts and I have never seen a hint of bias either way.
Good for the Tribune for printing this. And thanks to the three WTTW reporters and staff folks who stood up and complained about the growing bias. Maybe there are a few ethical and balanced journalists left in the world after all. Looks for sure like there are a few at WTW.