-- 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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Mountains of paper work? WTF?
Where is that plan to fully fund pensions?
What’s that, talk of a tax hike this year, next year?
Who can keep track except the political operatives and politicians, government employees including union employees and nonprofits entirely or heavily dependent on government revenue, contractors and vendors, etc.
Hey all of a sudden that is sounding like a lot of voters.
You scratch my back, I’ll scratch yours, financed by taxpayers.