-- 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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BAIL OUT
Notice Mendoza plays the old illinois deserves a bailout because we are a “donor” state card…surprised shes the only machine hack playing that old canard?
It’s a bailout, and the current bill that bails out the private pensions of union truckers and union miners is a prelude.
Mendoza is part of the Illinois/Chicago problem! Democrat.
It’s a bailout