-- 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
He pretty much thru Tier II pubic sec employees under the bus when asked about pension debt by admitting Tier II pension payments are subsidizing Tier I and offering no long term fix on pensions other than just pay more?….as inflation/recession rage
A sample of the meeting: Governor Pritzker, some of your racist, white supremacist, xenophobic fascist opponents admit you’re a great governor, others admit you’re a really great governor. Who’s right?
Don’t waste 50 minutes. Mostly just open-ended questions inviting JB to put his spin on things, and questions that he has been asked before to which he gives the same answers.
“…the same answers” are no answers at all. He’s perfected the non-answer, as has most of his ilk.