-- 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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No.
Live within your means, like we are all having to do.
I would be very surprised if this did NOT pass.
Preckwinkle runs county budget finances into the ground. instead of saying, “I’m sorry, I’m 74 years old and I should retire in shame”, she runs for reelection while begging for more money. And she’ll get reelected by a 3:1 margin AND voters, dead, alive or non-existent, will give her money for the forest preserves.