-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
TIF equals a politicians wet dream. A giant slush fund of u traceable cash that can be given away to friends and family or just pocketed. Little or no scrutiny means ripe for corrupt individuals to take advantage, which we know corruption doesn’t exist in Illinois.
TIF’S need to be abolished in there entirety nothing but ripe for fraud and abuse, especially we’re I reside.