-- 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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This Madigan and daughter scheme is too perfect. Lisa doesn’t really care about the little people. Anytime you hear a Democrat doing something for the little people, look for the angle that lines their pocket, or in this case, their father’s pocket.
Dad got his leverage and that’s all that matters.
Interesting that the CEO and her minions pled not guilty. Good luck with that after Com Ed payed the hefty fines.
Only in the corrupt State of Illinois is it even legal for a regulated utility to make campaign contributions to the ‘legislators’ who write the legislation that regulates them. The Chumbolones just pay and pay again for this schite, then the Chumbolones get extorted for the six figure pensions for these prizes so these ‘public servants’ can retire to Florida.
Without bailouts and bankruptcy, Illinois is doomed.