-- 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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Provide a better product before you hit up taxpayers for more money.
That’s because we’re too busy pumping ever growing bags of cash into SURS.
Anytime someone whines about higher ed funding and doesn’t mention pensions, ignore them.
Sounds like Kamala Harris – a word salad with lots of buzzwords but no real point. Except “more money for higher ed” of course.