-- 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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At first, I thought that it was just another of His Fatness’ scams to screw the middle class. But, when you look at it a bit closer, a “One Way High-Speed Railway” ticket out of Illinois may be just what we all need!!
BRING IT ON!!!
Knowing this guy that train line won’t leave the state! It’s a one way ticket to East St. Louis.