-- 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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There’s really irony here – marijuana tax revenue supporting communities impacted by drug wars.
If it weren’t so sad, it would be laughable.
East St Louis and Chicago land will be the big winners in this one.
148 programs? I think I know what one of the problems is. And I hope someone will be monitoring the effectiveness of this $45 million “investment” in these communities. I’m willing to wager no one will be able to point to any positive outcome a year from now.