-- 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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Is there problem that Proft is stating facts from a different perspective or that he produces something that resembles a traditional newspaper but isn’t perceived as one? Because everyone seems focused on his method versus the content reported.
If Proft is reporting fake news, call him out. If it’s because he uses a tabloid approach to report actual facts, why should we care?
I listened to this and Proft stuck it to Greising we’re the sun don’t shine.