-- 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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Extremely hypocritical and offensive that Mr. Brown can criticize fmr. CC Sheriff Sheahan when his wife has been collection a public salary with a do-nothing Director of Violence Reduction job title with the present CC Sheriff:
https://www.cookcountysheriff.org/hardship-project/
Ex-Cook County Sheriff Michael Sheahan is the latest former elected official to cash in on leftover contributions made to his campaign fund. It’s legal — but shouldn’t be.