-- 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
So many holes in this swiss cheese.
$110 million to fix streets and leaky pipes. $110 million to help the pension crisis. $110 million to provide tax relief to homeowners. $110 million that could be used for the benefit of legal residents. $110 million for a dozen good things pissed away on illegal aliens followed by another $110 million in the coming months.
Broke Chicago is digging is fiscal grave for illegals