-- 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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Good for this Mayor!
I love this Mayor. Wish more were like him.
Soon every town and village will want one. It’s the latest craze in controlling your voters! Brought to you by King Pritzker and Beetlejuice.
Another level of government won’t solve the problem.
A level that can think for itself might help. Since they will gerrymander the Rs to death – the only way to fight back is town by town. It might be a great idea. Now they need to work on reducing the other levels, especially administrative school districts.