-- 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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Instead of filling the kiddies heads up with some crt guilt bs, teach then about their true systemic oppressors, irregardless of race. Teach them the history in this fantastic Bauer articale–the crushing legacy of madiganism & pay-to-play combine Illinois politics of the past 60 years!! Mandatory reading for any illinoisan
Meh. The public never told anyone to not fund pensions. No taxpayer ever said skip a pension payment so we can give everyone raises. If they would’ve been upfront on the actual cost, taxpayers most likely would’ve passed, those people never would’ve been hired, and life would have gone on just fine.
Good summary article. Would be good for Forbes to follow up on a profile of some of the bigger fat cats in the Combine. Good one to start with is Edgar.
Well that sure was a depressing read. In summary, all Illinois politicians suck at everything but playing kick the can.