-- 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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“…people who have served at least 10 years of a drug-related sentence, persons who are 65 or older and have served 20 years of their sentence, people who were under 21 at the time of their offense and have served at least 15 years and people who have served at least 10 years for a theft, robbery or burglary conviction” Thing is, no one who received any one of these lengthy jail sentences got it because it was their first conviction. In Illinois, everyone eligible for having this law reduce their sentence will be someone with a lengthy record of… Read more »