-- 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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I’m guessing Johnson will say, “OMG, look at the mess she left. Nobody told me it was this bad.”
he is a fiduciary after all
SPOILER ALERT — Whatever Johnson declares about city finances, he will use it to break his phony campaign promises, and push for his $12B tax hike plan
https://www.foxnews.com/politics/chicago-mayor-brandon-johnsons-allies-push-12-billion-financial-package-raise-taxes-defund-police
I’ll take the under on this, he’ll say “These finances look good, there’s plenty of money left over to begin new progressive spending initiatives!”