-- 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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Props to the randomness of choosing 8 out of 10 as a landing spot. Imagine being the other two people and being condescended to every meeting. “You can’t possibly understand!” lol ten members of the public appointed by the Governor, at least 8 of whom are African American descendants of slavery.Creation and enforcement of an Illinois Slavery Era Disclosure Bill mandating that in addition to disclosure, an affidavit must be submitted entitled “Statement of Financial Reparations” that has been negotiated between the Commission established under this Section and a corporation or institution that disclosed ties to the enslavement or injury of people… Read more »
After that study on CPS we know they won’t be able to read it.