-- 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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Do people in Illinois really have that much extra cash to eat out? Something wrong here. Either the economy is much better than I think it is or there area a lot of fools who are quite frivolous with their money.
Guv Pigchop hates Illinois but loves to eat. The 17% increase is from his feed bag. He wears a man girdle to keep his massive gut under control!