-- 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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since I am six years removed from Illinois, it sure comical to see what IL government and its citizens have become. The whole thing reminds me of an open range chicken farm with the politically corrupt being the farmer and the citizens the chickens. The fraudulently elected pols throw scraps over there and the citizens all run over and look and peck. Then that runs dry the pols throw some more feed in a different spot and they all run over to a new place. Then over there, and now there! Look more scraps ! Over there, now there! Easy… Read more »