-- 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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I just spent my *rebate* on reading this article and commenting…
That $5 ain’t nothing. Spend $500 on 100 gallons of gas and save $2 bucks, now that’s something. Thanks JB.
I dont need $5 from ComEd, I’m saving a fortune on the 1%grocery tax suspension. Money, money, money!
For me that means one mega millions/one Powerball and one lotto ticket and lots of luck and I’m outta here!!
Wow, a whole five bucks. Off to Mickey D’s I go!
Realistically the officers of the corporation should be on the hook for the payment. They approved it and the shareholders had nothing to do with it.
Five Bucks. Really? This is a joke.
Unfortunately it is