-- 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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JB sucks!
He basically declared victory, falsely, then surrendered.
This is not a win JB, it’s a huge L and everyone knows it.
I agree it’s not a win for JB but it’s hardly a loss either. He will simply implement the rule next fall if he wants and if JCAR agrees then it will need to go to court all over again. If he wins in November he will claim he still has the power. This is actually a gift to the GOP as it can become an election issue.