-- 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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Covid data and the reactions to it has always been murky from the start of the virus so at least the state and city of chicago are consistent. The LOL governor and big (whatever) mayor had the opportunity to clear this murkiness up. The departments of public health work for the lack of leadership for the state, county or local government. They took the responsibility to lead, it’s time to vote them out.