-- 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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Corruption 101 is taught to every politician elected in Illinois. Madigan stole millions of dollars for himself and his cronies. Burke stole millions for himself and his cronies. Daley 2 stole millions for himself and his family. Aldermen, state reps, state senators and a host of other elected and appointed individuals has filled their pockets with bribes and kickbacks for decades and on a rare occasion one will get caught. Madigan, by April 2024, will be too ill to stand trial. Burke will reveal some medical issue that would prevent him from the stress of a criminal trial. The city,… Read more »
Everyone knew it was going on. This is how things are done in Illinois, always has been this way.