-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Atrical states Bennett from Lighfoot admin is not going to stay even if asked by CTU/Brandon admin. apparently she was credited with doing a pretty good job with relationship to biz community? It would seem biz community is waiting to see who CTU/Brandon brings in run things. Seems they have a chance to bring in somebody moderate but if it’s more hot-poker in the eye/tax the 1% sudo-soccailist running budget office forget it