-- 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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I think the influential Chicagoans who supported Lightfoot for Mayor need to start publicly apologizing. It’s not even close with Lightfoot – this wasn’t a swing and a miss, but rather what planet are you from.
No FBook, so I am unable to comment below JK’s column…
Acting Cmdr Carter (or whatever her name is) got full Cmdr pay, benefits, etc. Merit is the name for the system they use to reward the friends of the anointed ones…
JB, LL, TP, etc. It is unfathomable how these, apologies, pieces of sh…. Sorry, CHUM, run our town and our state.