-- 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
Rating Houses, in the past, have had their challenges making correct judgements about the viability of some investments. I am thinking of their behavior when they rated Mortgage Backed Securities and CDO’s in 2007 and 2008. Just because they did this…doesn’t make it correct.
Federal monies sure work wonders hey Pritzker it most certainly has nothing to do with your crappy leadership, please quit patting yourself on the back you know damn well Illinois is doomed.
You really think those arms can reach his back
Needed a good laugh thanks.
I’m sure JB will run around blowing his horn on this. But in reality it is like your second baseman who is batting .161 boasting that he got his batting average up to .171 Still pathetic but it is an improvement.
With MLB giving him free base hits to pad his stats