-- 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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It’s called spitting at Niagara.
Another reason to become a stacker. It’ll be cheaper to wipe your backside with dollar bills soon that to buy TP with them.
Not nearly enough. The pension time bomb is exploding and 100% of revenue is not enough.
Huge overly generous pensions are going to destroy Illinois. Illinois was sold out for the public sector votes. The government worker has created the largest generational theft in history.