-- 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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What private sector companies give raises when they are failing? Another example of screw the taxpayer. If you do not like you can move, and hundreds of people every day are doing just that. Illinois is its own worst enemy.
There’s responsibility, accountability, and no greed in the private sector. The government is consumed by greed and there’s no responsibility or accountability
Looks like jb’s going to also get $400 mil, not $1 bil, for his taxpayer funded ‘closing deal’ fund —“$400 million for attracting business to the state”