-- 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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Magnanimously, Fat Man Pritzker and Little Boy Lightfoot are allowing everything left to re- open fully on 06/21.
Neglecting the fact that they are the ones who closed it all down. Oh and by the way, schools and government offices need a little more time and money before they can get up and running. Will the last person to leave please blow out the candles. The electricity will have been disconnected!