-- 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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He is already 80 years old – should have been jailed 20 to 30 years ago. It is rather a mute point now.
If he did nothing wrong, why does he need to hide?
Just like every other time in his seedy career, Madigan will use every trick in the book to avoid being held accountable. He feels he is above the law. I doubt he’ll ever spend a day in prison. Still, the apples don’t taste as sweet these days, and he probably isn’t sleeping very well.