-- 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
I speculate anecdotally or throw out for discussion….seems all the ‘new machine’ in your face /ctu activists types are tier 2, young folks. In my nw side block , this year several of my old school machine tier 1 neighbors have hung it up and/or had enough. and where never the in your face activists types but more of the fly under the radar types
Well it helps that the “army” is public sector union parasites & layabouts with plenty of time on their hands. It’s been long established in this craphole town that public sector jobs come with “requirements” for the ya know, patronage.